XLM (Stellar Lumens) Elliot Wave AnalysisHello guys,
XLM started its wave around November 23rd 2018 and finally reached wave (5) December 15th.
Zigzag correction wave to be valid:
1. B wave needs to retrace between 0.786~0.886 of X to A.
2. C to retrace to 1.12~1.272 of B of A.
It is now on 'potential' corrective pattern. Assuming that the wave is playing a zigzag correction pattern, B validates when it retraces to 0.886 exact point from X to (A).
And now heading towards C.
Other things to consider:
1.It also broke out from falling wedge pattern supporting point (B)
2.Has a strong support 2900~3000 area from Jun, July and September.
Stellarlumens
Stellar Looking Good for a Quick ShortIts been a long, long time since we’ve had the chance to look at $XLM. So, we’re going to take the time to do so now:
In the above chart, we’re in the H4 resolution.
However, before we cover what’s going on in that picture, here’s another one of the same chart resolution with a little more detail added for insight:
In the picture above, we can see:
1. Mini-downtrend resistance that’s just above where the price is now. RSI(14) is already overbought after a ridiculous surge in the past few periods. There’s a chance that exhaustion could be reached with the bulls on this coin, which would lead to a consolidation.
2. The RSI(14) is a big deal. The reason why is included in my annotations for XLM’s RSI on the H4 resolution.
Let’s look at some support and resistance points on this time frame as well:
In the picture above, the two dotted green lines represent two major points of support and resistance.
There is a third, slightly less potent, overhead resistance that must be accounted for as well:
Again, this is the H4 resolution for $XLM (Stellar Lumens) using the Binance Exchange as the source for price data (its the most reliable and where the most volume for $XLM is at).
Putting All of This Together
In my opinion, just the information that we have here is enough for us to come to a conclusion on the position that we want to enter here on $XLM.
My idea here for $XLM is to enter into a short position (temporarily). For those that are subscribed to the Patreon, I’ll explain what my longer term strategy for this coin would be moving forward from this point.
Here is my R/R on the trade:
XLM "STELLAR LUMENS" 3500's INCOMING...Will we hold!?!Hi guys! I have done a quick analysis on XLM.
Make sure to LIKE and FOLLOW as this helps others to discovery my content.
Lets get right to it!
XLM on the DAILY time frame, Stochastic RSI crossing to indicate bullishness
as well as the MACD crossing upwards to indicate Bullish divergence.
On Binance the current volume in BTC is at the time of writing this 1,539.
I will be monitoring the incoming volume on binance in order to see if we can see
enough volume to start a uptrend on XLM. Right now i still am not yet convinced
on this breaking out as i will sit on the sidelines and just watch until i see
XLM move past 3700's following a retrace i will enter on CONFIRMATION!
Thanks, LiquidMEX
DISCLAIMER:!!!This is not to be considered financial advice is my personal opinion, always do your own research before entering or exiting trades as i will not be held liable for any of your trades!!!
XLM Support as strong as Hercules!! We are READY FOR TAKE-OFF XLM shows strong support at level 2930-2970 and has never been broken since April 2017. At this moment XLM is hanging around this same support level and is ready to bounce off to new highs. Expecting a bounce at 2930. New resistance at level 3010 and 3260. Expecting level 5200 somewhere in February or March.
Support Level: 2930 - 2970
Resistance Level: 3010 & 3260
This article is for education usage only.
XLM breakout!Hello!
XLMUSD has been showing some bullish signs after finding support in between the 50-60 % retrace from the miniature bull flag whilst squeezing on the monthly moving average with the drawn trend line signaling a breakout if we have a rally that breaches and closes with a few lines above the MA.
In the case of a breakout we can expect a surge upwards 0.14 level marked with the dotted line before a retest of validity on MA monthly current area, which also is the top of the flag pole. After the retest a surge towards 0.18 can be expected forming a finished BEAR flag in the bigger picture signaling a down move.
If the breakout fails (small bear flag completion) at the break of the the trend line expect a move to the 0.10 (if worse 0.05) level forming a double bottom (if 0.05 its a stop loss hunt for larger orders) where most likely a lot of buy orders will be sitting lurking for an opportunity to be filled.
if you like my short summary make sure to like this analysis as i will try to make more of these and update them regularly!
Stellar Lumens - Looking for a BounceHello chaps!
I'm looking at a long here with the first target set at 0.00003270.
My theory is; a double bottom style bounce due to strong previous support on the swing lows.
Now, I know Altcoin support zones are laughably thin, so my stop would be set quite aggressively at around 0.00002830 mark (just under any previous wicks).
RSI might be just teasing us here, but you could be mistaken for a whiff of bullish divergence.
That's all for now. Cheers!
---
Getting my feet wet with TA, so I'm open to criticism and willing to listen to any advice from the more seasoned out there.
In the words of Carter Thomas "None of this is professional advice, just a random dude on the internet giving his opinion" :D
Wait for confirmation. Keep short for now..$XLM under a sell signal from the UCTS since Nov 22. Around 30% drop since that call. Right now on a descending channel, really close to a strong support around 2900Sats. Set up alarms at that level if price breaks down. Volume doesn't look strong for now, $XLM
If price breaks out from this channel, I would expect it to raise at least to EMA50-100-200 that are very close to each other. For now I will just wait for some confirmation in order to buy XLM. $XLM #Stellar
Stellar seems good buy here.Stellar lumens is following an uptrend in 2h chart.
You can buy some stellar here at current price.
Target is given in chart with stoploss.
Second reason for holding Stellar decentralised exchange is to be launched on 31st december.
Hold your bags.
Invest at your own risk. profit is yours and loss is also yours.
Follow me to get instant update of market.
Falling wedge forming for XLM on BinanceFalling wedge forming on Stellar Lumens. A falling wedge is a reversal pattern and we should watch closely to see if the price can break through the upper trend line of resistance (red).
If the price breaks through near point B, then we take our Fibonacci retracement between EA (highest to lowest).
If the price breaks through nearer to point D, after another small movement down towards our lower trend line of support, then we take our Fibonacci retracement from point EC (highest to lowest).
In both cases, our entry point would be directly above the upper trend line (red), expecting a breakout upward. Then look for an exit at one of the Fibonacci levels to take profit. A good stop would be just below the lower trend line (green) in case it falls back into the wedge and continues to move downward.
XLM Bullish Wedge Pt. 2: Still looks good.BITFINEX:XLMUSD still looking strong after my last post where I PERFECTLY called the target of the bullish wedge. That one was pretty popular so this is the follow up.
After a retracement, it's moved up back to the resistance. If it breaks above the support and confirms it on the H4, then we're good to move up again. Extra bullish bonus points: if this current candle becomes a bullish engulfing candle by surpassing the previous high. However, I think it would be more likely that we get some retracement first. Even the green fib level would be enough. If it bounces right off and starts moving down below the significant fib level within the next day, then it signals that it could be a red pizza slice double top kind of thing. If you don't know what this is, you can read my latest Chainlink analysis. Chainlink and XLM have a lot in common, and that is that they are my favourite alts and the ones I am most bullish on for the long term with great fundamentals. Highly recommended to look into it.
Moving on, let's have a look at our indicators, volume is still very solid today, and the MACD hasn't even crossed over or turned down yet. Very nice. We'll wait for a 4 hour close and hopefully we can get a bull flag that takes the pair to $0.20 or more over the Christmas weekend, but that would need even more interest and maybe even a surprise holiday announcement ;). If we break down, then the target is back to the bottom of the wedge at around 9c-10c. We'll also be analysing Bitcoin's next move so be sure to follow for more updates to come if you are not already.
Happy Christmas!
-Etch.
Previous analysis:
XLM Daily Analysis: $0.13 & The PossibilitiesXLM, the fourth largest Digital Asset has seen a 12% increase, before 2% being shaved off last night as it seeks to cool down before making the next step to $0.13.
What do the charts say?
Bullish
XLM cooled off to the 0.786 fibonacci at $0.118 before making another leg up by 0.45% - it appears that is where XLM will find temporary support before it bounces up to seek to break the $0.13 resistance.
On the lower time frames, the 15/55/90 MA's are set to cross-over the next few hours, that will provide it enough momentum to break past the temporary resistance.
Accumulation despite topping up during the past few hours, is slightly increasing up 2% on the day.
Market sentiment is slowly increasing; partly owing to anticipation of a Coinbase listing shortly.
Bearish
A close below $0.108 would represent a bearish cooling off period - especially over 48 hours.
Nouvive Says: XLM has found temporary support at $0.118 seeking to wait for both how BTC is able to find a definitive support and for the Moving averages to cross-over. It is more than likely we will see a $0.136 break during the course of the day.
Is it falling or rising star? Analytics XLM/BTCSince December 16, the growth of the coin has been observed, but the overall review, in our opinion, does not give grounds for optimism. First, the price is in close proximity to a strong support level at 0.00002945. It reinforced by the rebound of the rate from it, almost the entire purchased volume of the coin has already been sold out. Despite the positive price trend, the sales prevail.
Secondly, the current fall, which began on November 20, is characterized by low, compared with previous recessions, the activity of buyers. It shows decline interest in the asset.
In addition, the current growth going with on average, or even lower volumes, which is not enough for a confident asset growth. Judging by the chart, the highest possible price at the moment is 0.00003377. After that, we expect a fall and a breakdown of the support level of 0.00002945. The next support is at 0.00002600, and probably it will be broken also. But in this area, you should observe the behavior of the price.
XLMOption 1 Bearish 1-5 Impulse: Bottom at 2910-3040, ABC correction to 3310-3520
Option 2 (not shown in this chart): ABC correction finished around 3300, now could start a new 1-5 Impulse to 4310-4470.
Option 1 is more likely to happen due the presence of Falling Wedge structure (shown in the chart) and two H&S patterns completed (not drawn).
Educational
Stellar (XLM) Recently Broke Its Previous LowStellar (XLM), which is currently the 4th largest cryptocurrency by market cap, recently broke its previous low and lost 7.25% over the last 24 hours. This is quite a big drop considering that most of the top 20 cryptos have slowed their descent and are forming support.
The recent break shows downtrend resumption and suggests that another leg of said downtrend has begun. Next support is located at 0.082, a price that was last reached in December 2017. However, before that mark can be touched, we will most likely see a bullish correction based on the oversold condition shown by the Relative Strength Index which is below its 30-mark. The overall bias remains negative.
Support zone: 0.082
Resistance zone: 0.11 (potential resistance; not confirmed at the moment) and the 2 EMAs
Most likely scenario: re-test of 0.11 from below, followed by sideways price action
Alternate scenario: possible move up based on the RSI oversold condition
XLM/USD scenariosStellar has grown 3,736.57% since it first started trading. Stellar had about 42.00% winning months of its total trading age of 52 months. The price of Stellar dropped as much as 26.00% in a single day on Tuesday, January 16th 2018. Stellar grew as much as 50.91% in a single day on Thursday, January 4th 2018. Stellar increased as much as 428.05% in a single month, in November 2017.
However, we are currently looking at a Stellar Lumens bullish confirmation. The outcome is likely to be one of the 2 following scenarios:
Scenario #1: A sideways movement between 0.17 and 1 USD. The longer the price evolves within this purple price channel, the more potential upside for Stellar’s price.
Scenario #2: Follow through that leads the price to 0.35 thus the upper side of the horizontal channel which will ultimately lead to the major breakout once the price crosses above 1 CAD.
Stellar (XLM): There are more than 1,900 crypto coins in the market today and each has a solution it is trying to solve. Surprisingly, none of these can claim monopoly in their jurisdiction but some have superior value propositions backed by a strong unique technology and Stellar Lumens (XLM) has so far impressed the investor as a global financial system.
Stellar (XLM) is rated the sixth largest and most valuable coin in the world. However, its success is based on its development progress for the last nine months. The bearish market has not deterred the platform from gaining more visibility and this has resulted to additional adoption. Here are 5 reasons why Stellar will dominate the financial sector in 2019 and beyond.