Weak Monday...Sadly it's looks like the uptrend will be broken today... or not? Let's see..
I still believe in this uptrend channel but the story changes so quickly. With every BTCUSD whale drop of 1%, XLMEUR drops 2,5%..
Hang in there
Stellarlumensanalysis
Break the resistance!Yesterday XLMEUR has been flirting with the resistance level at 0,255 cents (around 0,30$). I would like to see that this resistance is broken so that higher levels come into play. Some good news on XLM vs USD support on Binance and Bittrex should help.
Today :
range between 0,245 and 0,27
new resistance levels will drawn in the weekend, expect around 0,28 and 0,30
XLMBTC between 3800 and 3950
RSI remains high
BTCUSD should sometime recover and drive the Alts up
Have a great day
Stellar Lumens Ascending TriangleWelcome back Apostles!
I posted a Stellar Lumens chart a while back calling a ascending triangle but I tried to draw it before price found support so I got Rekt lol.
Now comes the updated Version!(Check out my previous STR update for a laugh)
I recently posted a chart for EOS and the C&H pattern it is accumulating in.
For this chart I will now talk about another very profitable Bullish continuation pattern I see form inside crypto regularly called an, "Ascending Triangle."
Ascending Triangles are a bullish accumulation/continuation pattern that happen before a strong bull move on the upside.
In this ones case we just broke out of previous ATH and have now found support on top of the previous market cycle or previous ATH.
Last summer I watched multiple coins accumulate in this pattern before prices exploded giving us traders a perfect, "Alt Season."
Once prices break out of the top resistance of the Ascending Triangle this pattern will be confirmed so be on the watch!
Below, I will update with some examples of this patterns history inside cryptocurrency markets.
God Bless, JolleyCrypto
The rangeXLMEUR was recovering nicely yesterday when the whales attacked again. Imo some exchanges need more oversight. This dumping is not helping this industry. I expect more of these attacks and more side ways trading until we have some really good news
Today
We trade the range 0,23 to 0,25
Support resistance of 0,255 needs to be broken first for higher highs..
A new support levelSo market are trading down. Sad, I had to draw a new support line..
For RSI lovers: a nice buy moment!
Medium term projection: short, then bounce to 0.5 FiboThe price is on a crystal clear 4H Channel Down which is now pricing a Lower High (RSI = 45.400, Highs/Lows = 0, B/BP = -0.0080). Based on the Fibonacci retracement levels of the previous Channel Down, XLM should make a Lower Low on this Channel near 0.21539646 (which is our TP). After that it should rebound to the 0.50 Fibonacci (0.29077738), before possibly a new Channel Down.
