XLM has always been in the spotlight with its partnership with IBM and the constant back and forth with Ripple on which tech is better. After hitting abysmal lows near 2959, XLM has rebounded nicely with the rest of the altcoin market and finds itself right up against resistance for the fifth time in the span of 2 months. After breaking its long-term downtrend line with volume, Stellar has retested the trendline and continued higher with an increase in volume. Seeing that this level of 3320 has been tested numerous times, the likelihood of it breaking are increasing with every attempt. However, entering a trade at resistance is never recommended, therefore waiting for a pullback down to the FIB level below or even back down into the demand level would yield better R:R.
MACD has turned positive slightly and the RSI continues to creep higher showing positive signs. With the potential upcoming listing on Coinbase, XLM is positioned better than most altcoins to provide substantial returns in the near future.
Please hit the 'like' button, give us a follow and let us know what you think below!
Thanks guys
MACD has turned positive slightly and the RSI continues to creep higher showing positive signs. With the potential upcoming listing on Coinbase, XLM is positioned better than most altcoins to provide substantial returns in the near future.
Please hit the 'like' button, give us a follow and let us know what you think below!
Thanks guys