Stellar lumens have some big plans for 2018, particularly starting with FairX in the near future (I know, its been delayed). Anyways, lets jump into the graph. Xlm has been consolidating well at the sub 3k sats. There has been an increased in volume for the past two days, which indicates that a rise is imminent. MACD is trending up ward which indicates a rise is coming, along with the RSI and OBV which have been holding well further supporting the consolidation phase. Perhaps the end of the consolidation phase is over and we are about to life up because there is a decrease in volume but the price hold stable. This shows that sellers are, for the most part, washed out of the market and the only players left are the buyers. I think it is safe to assume that the consolidation phase is nearing its completion. I will be keep a close eye on XLM for the next couple of days.
This is not investment advice. Happy investing all!
This is not investment advice. Happy investing all!
Comment:
Wave 3 went to 5k as depicted on the original graph followed by a retracement to the 4k zone (wave 4). So far the waves have been following quite nicely. Give it some time to consolidate around this area before finally heading towards Jan2018's ATH. Happy investing all.
XLM has been showing bullish tendency for the past three days. Volume is indeed picking up as depicted by the white arrow, also worth mentioning is that that while the body of the last 3 day candles are within the same range, the wicks are getting longer and longer in the upward trend. This is also an indication that the bulls are attempting to push against the bears. The bears are only able to push the price back down to the original value (as depicted by the similar candle body for the past 3 days) and not lower. This is a good sign that a reversal is coming. Also, the price trend has been above the 20 day moving average for about a week now and is now trending along the upper limits of the 20days MA.
As we've seen for the past couple of months, BTC typically brings down ALT when it crashes but there has been a change of market sediment in which a decrease in BTC's price is having less of an impact on ALT coins. Take XVG coin for example, the price of BC dropped from 7.2k to roughly 6.6k but Verge mooned inspite of BTC's price dropping. This decoupling from BTC is the first step in the right direction for ALT coins.
Anyways, happy investing all!