Fundamental Analysis
With the recent news of lightning network over
XLMBTC
network, we could see some pressure againts the bear.
lightning network over
XLMBTC
will brings us into a decentralized payment processor which is good news since not many altcoins offer this.
the only altcoins comes into my mind for decentralized payment processor is
OMGBTC
but the marketcap showed us XLM will be pioneer in this market segmentation.
Technical Analysis (Timeframe 4H)
This could be either an Inverse Head and Shoulder or Double Bottom but Double Bottom got rejected in the fibonacci resistance line of 0.786 which is around 3000 - 3100 Satoshis
Ichimoku Cloud on crypto settings shows us there will be a Kijun/Tenkan cross on the way. same things happens with MA 20 and MA 50 line are also about to crossover.
but the candle is still below the cloud and recent MACD shows us there will be upcoming market correction ,DMI ADX line is also going sideways . we can't see any upcoming crossover between +DI and -DI.
unless volume and ADX line going up i expect the dip will be in fibonacci support line 0.5 which is around 2600 - 2800 Satoshis
with that possibilities of upcoming correction thus will bring us into the possibilities of an upcoming Inverse Head and Shoulders.
still we should break that key resistance line on 3100 satoshis in order to go to the moon.
With the recent news of lightning network over
XLMBTC
network, we could see some pressure againts the bear. lightning network over
XLMBTC
will brings us into a decentralized payment processor which is good news since not many altcoins offer this. the only altcoins comes into my mind for decentralized payment processor is
OMGBTC
but the marketcap showed us XLM will be pioneer in this market segmentation. Technical Analysis (Timeframe 4H)
This could be either an Inverse Head and Shoulder or Double Bottom but Double Bottom got rejected in the fibonacci resistance line of 0.786 which is around 3000 - 3100 Satoshis
Ichimoku Cloud on crypto settings shows us there will be a Kijun/Tenkan cross on the way. same things happens with MA 20 and MA 50 line are also about to crossover.
but the candle is still below the cloud and recent MACD shows us there will be upcoming market correction ,DMI ADX line is also going sideways . we can't see any upcoming crossover between +DI and -DI.
unless volume and ADX line going up i expect the dip will be in fibonacci support line 0.5 which is around 2600 - 2800 Satoshis
with that possibilities of upcoming correction thus will bring us into the possibilities of an upcoming Inverse Head and Shoulders.
still we should break that key resistance line on 3100 satoshis in order to go to the moon.