elefante

Stellar Lumen ($XLM) - trend analysis

Long
elefante Updated   
KRAKEN:XLMUSD   Lumen
XLM/USD is still in the downtrend however price reaching major historical support level.
For sure it a great place to accumulate some $XLM.
There are at least several things that we need to see on the chart to be sure that reversal is happening:
1. Price has to break bold yellow resistance line;
2. Price has to start making lower highs and higher highs on daily chart;
3. Price has to surpass 0.1$ first but minor psychological level

If current support level will not hold we may see price going to 0.03$ but it's unlikely in my opinion.

In any case 2 year cycle is coming to an end and we will witness a start of new uptrend cycle in the upcoming year.

Here is my XLM/BTC chart:

Trade carefully and good luck!
Comment:
2. Price has to start making higher lows* and higher highs on daily chart ;

On the short-term XLM/BTC chart there is a Falling Wedge pattern.
But price can go in both directions considering current market sentiment.
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