Stellar Lumens (XLM) Forum with for newcomers and contributor's rewarded Check here




EOS and Stellar Lumens Bear Breakout Confirmations
  • 2 Vote(s) - 2.5 Average
  • 1
  • 2
  • 3
  • 4
  • 5

#1
[Image: Cardano-Price-1140x570.jpg]
Latest Stellar Lumens News

For a project to hold on to a position in the top 10, then it means the founders have a workable vision and there is progress as the platform offers solutions. Demand must be there and although some as Stellar Lumens have been labelled as “failed currencies”, their native coin—XLM is resistant to lower lowers as depreciation is not as rapid as others.

In the last year for example, Stellar Lumens prices were mostly consolidating within a 15 cents range only breaking below 15 cents in Q4 2018. Despite this, Jed McCaleb who in a recent interview tore into ICOs, using choice words for the Tron platform admits that the Foundation has been doing a poor job as far as marketing is concerned. He admitted that most people don’t know what Lumens is and have no clue on how the Stellar platform operates even though XLM is a fluid coin and highly capitalized.

But, considering how speculative the space is and how people care for short term gains instead of digging a level deeper to understand what they are getting into. Unfortunately, what seems to tick is destructive vitriol which does nothing other than sniping developers instead of spurring collaboration in the spirit of blockchain.

Stellar Lumens (XLM/USD) Price Analysis

[Image: Stellar-Lumens-Daily-Chart-Jan-11.png]

Price wise and XLM is amongst the big losers in the top 10. The coin is down 6 percent in the last day and 5.8 percent in the last week adding to yesterday’s losses. As we can see from the charts, yesterday’s volumes are above average—10 million versus 3 million and this is bearish especially when we add to the fact that bulls failed to rally past our conservative triggers at 15 cents.
Since none of our trading conditions as laid out in previous trade plans were not met, the third phase—the trend resumption phase, of the bear breakout pattern of early Dec 2018 is now valid. In light of yesterday’s losses and the fact that there is resistance off 15 cents, we suggest taking neutral stands on the coin but should XLM find support at 8 cents, then prices may recover. Otherwise, XLM is likely to print more losses in days to come.

EOS Price Analysis

[Image: EOS-Daily-Chart-Jan-11.png]

Similar to XLM, EOS is trading within a clear breakout pattern when sellers crashed and close below the main support line at $4.
The breakdown triggered panic sellers and although there was recovery on late Dec 2018 following dip erosion throughout November, bulls didn’t muster enough momentum to close above the 38.2 percent Fibonacci retracement level drawn between Nov-Dec high low.

Bears are back and from the chart, any close below $2.3 will confirm the trend resumption phase. If that prints out then EOS prices may drop to $1.5—Dec 2018 lows.


All Charts Courtesy of Trading View—Bittrex and BitFinex


source ethereumworldnews.com
by Dalmas Ngetich
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  Following Stellar’s Big Break, Whale Moves $113,592,917 In XLM crytocure 0 5 1 hour ago
Last Post: crytocure
  VMC Announces First STO In The Netherlands On The Stellar Blockchain crytocure 0 3 1 hour ago
Last Post: crytocure
  Stellar [XLM] Price Prediction: Is This the Beginning of the Correction? crytocure 0 4 1 hour ago
Last Post: crytocure
  What is IBM Blockchain World Wire And What It Means For Stellar Lumens (XLM) crytocure 0 6 Yesterday, 02:03 AM
Last Post: crytocure
  Stellar Lumens [XLM] Price Analysis: Bulls come out of the woodwork crytocure 0 9 Yesterday, 01:55 AM
Last Post: crytocure
  Stellar Lumens [XLM]: Payments depend really heavily on network effects, says Jed McC crytocure 0 7 Yesterday, 01:49 AM
Last Post: crytocure
  Announcements Stellar on new Exchange and 1000 free tokens fractal 0 23 19-03-2019, 08:49 PM
Last Post: fractal
  World Banks Plan Stablecoins on Blockchain World Wire, a Stellar & IBM Collaboration crytocure 0 15 19-03-2019, 02:07 PM
Last Post: crytocure
  Major Crypto Exchange and Wallet Coinbase Adds Support for Stellar Lumens crytocure 0 9 19-03-2019, 01:58 PM
Last Post: crytocure
  Bakkt vs ErisX - Stellar Lumens IBM 6 Banks - Bitcoin Futures Lightning Network - crytocure 0 9 19-03-2019, 01:52 PM
Last Post: crytocure



Users browsing this thread: 1 Guest(s)