So on a 1 week candle chart we can see that the RSI is overbought, I'm expecting the RSI to fall down to the white line. Also the MACD is somewhat bearish. Short term, the price can rise a little, but I'm talking about long term as in couple of weeks+.
Here is my previous Stellar analysis:
~DCFreak
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I forgot that stellar is going to be used for couple ICO's soon. This will change everything.
So don't take this TA for granteed. I forgot to mention external factors.
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...... called its rise, and its fall.
Trade closed: target reached
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Even though the target is reached I believe there is more to come. (Pretty sure actually)
If RSI was the only thing we had to look at we'd all have billions.
I disagree with this entire thing.
DCFreak
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@Xatos, RSI + MACD are two basic indicators.
You can get a pretty good image of whats going on with these two.
Smart investors don't buy an overbought coin. That's a fact.
Even if you look at a 1D MACD... its bearish.
Its fine to disagree, but you can't deny facts. Good luck.
DogenSrb
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@DCFreak, But at MACD blue line is up, it is bullish trend?
DCFreak
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@DogenSrb, that's why I mentioned in the post that it might rise short term but a correction is coming within a weekly period.
Once the blue line flattens or turns downward that's when the RSI will go back to avg.
LibertyOffensive
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@DCFreak, I told you your analysis was wrong. This isn't technical analysis, you're looking at a couple of meaningless indicators. I tried to tell you that.
Let me know if you need any help.
BuyGanyo
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Do you think it can go down to 0.13 -0.15?
prep16505
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Thanks for your idea. Is the fall nearly over for now? Seems daily indicators showing near oversold, but we still look very high in the sky when zooming all the way out.
jdharward
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Looking at your previous analysis, XLM is forming a huge cup and handle :) -- But I think you're righht and it won't take off for another couple weeks.
john999999
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Don't really think RSI will go all the way down to the white line. I see more just stopping midway.
I disagree with this entire thing.