We are in the middle of summer.
Blistering heat and vacation cravings have historically never been an exciting mix for the stock markets.
Low volumes, profit-taking, almost all economic sectors in "pause" before the autumn rally (apart from the tourism and oil sectors, even with the covid, there was a slight recovery this year).
Apart from the anomalous...
Currently we're bottoming out IMO.
This would make a pretty CUP & HANDLE pattern.
With a retrace on it's 50WMA and finding support.
Bullish Divergence on MACD and RSI on this timeframe making it a possible move to the upside.
If the pattern we're talking about is actually the CUP & HANDLE pattern and we break out I'll see a target of ~€13,6.
If i my count is ok, in the history of this pair, there are many cases of fifth extended wave. So, considering that the third wave is not so exagerated and considering that it finishes below the precedent impulse, i expect an extended fifth wave. Moreover, the price is tesiting a support, as you can see in my chart. Let's see that!
When the price of XLM breaks through ~0.45 "high-volume-bullish" there is a chance it will hit prices higher than ~0.6 up to ~+0.7
in the "next" few days we will get the " confirmation " for the price to hit expected price around 17th of this month
further more analyzes are required shortly
I already had this line drawn on my charts a while ago.
It stays interesting to keep a look at this one.
Currently finding support again and possible breakout to the upside from the current structure we're in.
Not financial advise, do your own research. And GL trading.
Hi guys! We can see XLM has been stagned for the past few days, but that just how XLM moves: stagnates for a month/month and a half and then comes a big bull run.
Technical analysis and fundamentals seems to be in the right direction for XLM! Great project for a long term investment.
What do you guys think?
It seems that Stellar is trading inside this triangle pattern. In my opinion be finally passed the correction of bitcoin. And because of the correlation to the performance of the altcoins to btc, I think it will rather breakout to the upside. Cheers ✌️💫🚀
First I really want to explain that, that at the beginning I couldn't understand why XLM pumped continuously last 13.02 /14.02.
With XLM you always have to check their newsletter to "justify" any price increase on the chart (Bitbound, Ukrainian Government). Because this last pump we didn't have "significant volume" (peak) we can say that might be an effect of...