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




Stellar (XLM) Price Analysis: Bulls Waiting to Buy on Dips
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5

#1
[Image: 190312_xlm.png]
Stellar has been trending higher inside an ascending channel, making higher lows and higher highs. Price is currently testing the resistance around the 0.110 mark and might be due for a pullback to support.

Applying the Fibonacci retracement tool on the latest swing low and high shows that the 61.8% level is closest to the channel bottom around the 0.093 level. The 50% level lines up with the mid-channel area of interest around 0.096 that might also attract buyers.

The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. In other words, the uptrend is more likely to gain traction than to reverse. The gap also seems to be widening somewhat, signaling strengthening bullish momentum.

RSI is heading south, though, so there might be some selling momentum left in play, especially since the oscillator is just about to cross the center line. This means it has some room to fall before reaching the oversold area, so selling pressure could stay in play for a bit longer. Stochastic is also heading lower to signal the presence of selling momentum. This oscillator also has plenty of ground to cover before reaching the oversold region, which suggests that bears could stay in control for a bit longer.

[Image: 190312_xlm-1024x630.png]

Stellar recently got a strong boost on news about SatoshiPay, but it seems that the momentum is starting to fade as buyers book profits. This development still has a lot of long-term gains to bring for the network platform, so buyers might simply be waiting to increase their positions at cheaper levels.

Besides, the pullback appears to be affecting most cryptocurrencies these days as traders await more concrete updates and signs that interest is picking up. There have also been plenty of geopolitical risks in play that have spurred profit-taking.



by Rachel Lee
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  Announcements Stellar on new Exchange and 1000 free tokens fractal 0 1 1 minute ago
Last Post: fractal
  World Banks Plan Stablecoins on Blockchain World Wire, a Stellar & IBM Collaboration crytocure 0 8 6 hours ago
Last Post: crytocure
  Major Crypto Exchange and Wallet Coinbase Adds Support for Stellar Lumens crytocure 0 4 6 hours ago
Last Post: crytocure
  Bakkt vs ErisX - Stellar Lumens IBM 6 Banks - Bitcoin Futures Lightning Network - crytocure 0 5 6 hours ago
Last Post: crytocure
  Major Announcement for ALL Stellar Lumen (XLM) Holders! Plus VISA in Crypto! crytocure 0 8 7 hours ago
Last Post: crytocure
  Newsflash: Stellar Price Spikes Just Prior to Coinbase App Listing crytocure 0 4 Today, 07:57 AM
Last Post: crytocure
  VMC Announces Stellar Security Tokens crytocure 0 8 Today, 07:53 AM
Last Post: crytocure
  IBM Announces Stellar-Based World Wire Payments Network crytocure 0 7 Today, 07:40 AM
Last Post: crytocure
  Crypto Market Wrap: Stellar Lifted on Coinbase Listing, Flips Binance Coin crytocure 0 5 Today, 07:36 AM
Last Post: crytocure
  Stellar XLM/USD Above $0.1130: Latest Updates Regarding XRP’s Competitor crytocure 0 5 Today, 07:32 AM
Last Post: crytocure



Users browsing this thread: 1 Guest(s)