BITTREX:XLMUSD   Lumen / Dollar (calculated by TradingView)
Lumen continues trending upwards while producing higher highs and higher lows. On the last wave up it produced an all-time high, hitting $0.97 and breaking above the 427.2% Fibonacci resistance level applied to the last wave where 200 Moving Average was rejected.

Following corrective wave down resulted in the 60% decline and price went as low as $0.4, where 200 Moving Average was rejected once again. After, XLM/USD went up breaking the downtrend trendline suggesting that the uptrend is now likely to resume. The first strong resistance is seen at the $1.18 where two Fibonacci retracement levels are inline. Only a break and close below the 200 Moving Average could invalidate bullish outlook.
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@HiTech
thanks dear
your idear best area for buy XLM is 0.5 usd ?

thanks
Reply
@HiTech may i ask (i follow your premium telegram aswell and really enjoy it)

Why do you prefer EMA 200 instead of SMA 200 ? Do you think its more accurate the bounces?
+1 Reply
HiTech PRO MarcelMartins
@MarcelMartins, thank you for good feedback ... cryptos grow exponentially, so why not to use the exponential moving average? :)
+1 Reply
@HiTech,
An exponentia (ly weighted) moving average merely puts more weight on recent prices over older ones. Please explain your reasoning.
Reply
HiTech PRO knowhatamine
@knowhatamine, there is no reasoning, you can use any MA, they are very close to each other, especially on 200 period
Reply
@HiTech,

Of course! :)

The more indicators, the better your prediction. Look at crossovers of weighted and simple moving averages is also well worth it. ;)
Reply
@HiTech,

Try logarithmic scales.
Reply
HiTech PRO knowhatamine
@knowhatamine, why would i need to try it?
Reply
@HiTech,

You don't. I don't ever use them. I was just saying that because you mentioned the exponential growth of our beloved crypto prices. Wasn't really serious, just like your EMA comment I suppose. :D
Reply
HiTech PRO knowhatamine
@knowhatamine, cool :)
Reply
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