It seems that this is quite a reality, I could be wrong, but the analysis revealed such a picture.
PS don't forget to SUPPORT the analysis and if you like MoralDisciple better, FOLLOW.
"With this analysis, everything seems clear, but there is a second factor that comes from below the previous line of resistance. And the trend will be further determined by higher levels of support. :)"
A support has formed along this trend line above the double bottom below
I believe this will be a point of recovery for XLM
The trend line can be seen due to the points of both support and resistance.
XLM price shows a descending triangle pattern in the daily chart.
Prices are close to the 200-day EMA and $0.11 demand zone.
A breakdown below $0.11 could lead to a plunge to $0.096.
Recent 17% pullback from resistance trendline.
Sideways trend indicates a lack of bullish momentum.
Market price crosses under the crucial 200-day EMA.
Possibility of a death cross if...
Stellar Lumens LSE:XLM
Shared originally elsewhere and forgot to post here. Since then we had this 16% drop as expected.
This sort of scenario would not surprise me and would be a great opportunity buy off of some strong support. That being said an entry on the 200 day SMA could be considered but its clear to me where the ideal buy zone is. Long term spot...
We have a long signal on the daily indicator. These are short term goals. I expect 100% completion on the hartley. There will also be continued growth after these values
Update:
Here are several noteworthy observations in the current price action on the chart. Firstly, the recent trend has transitioned from bearish to bullish following the formation of a candle above the CHOCH. Secondly, an Anti Cypher pattern has emerged on the chart, signaling a bullish sentiment. Thirdly, an ABC leg is currently forming on the chart, with the...
The support level marked in light green is being attacked by the sellers. A level once acting as the resistance has turned into a support that may or may not hold. A close below this level on the daily chart can push us back to the support level shown in yellow, which might attract lots of small and big buyers to potential bullish Elliot waves.
The indicator on the 1-day chart indicates oversold conditions. We have an imbalance zone. And good support that the bears cannot break through. There is also a smaller goal - the exit from the wedge. But I expect a major movement with an overshoot. 1:5 is good enter point
Sideways Movement: XLM is stuck in a consolidation phase, struggling to gain momentum.
Death Cross Warning: The declining 50-day EMA is nearing the 200-day EMA, signaling a possible death cross.
YTD Growth: Despite the consolidation, XLM has a 34% year-to-date growth.
Discounted Price: XLM is trading at a 42% discount from its 52-week high of $0.1959.
Intraday...
BUY ABOVE - 0.11018
SELL BELOW - 0.10996
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I think the green zone is a suitable support level for the price atm. The trend line also confirms the support level and depending on how fib levels are utilized. The green zone can be considered the 0.618 support level, which I think might be a good spot to buy.
NOTE: DYOR. EVERYTHING IN THIS CHART MIGHT BE WRONG.
Here we have two main support levels and XLM is trading above both.
The bottom hit December 2022 and a new bullish impulse started June 2023.
I believe we are yet to see Wave 5 of this bullish impulse.
How low it goes within the current correction is hard for me to tell because this can vary wildly based on many factors: overall market sentiment, Bitcoin,...
Hello Traders,
Here is the monthly chart of Stellar Lumens looking at this purely from an Elliott Wave perspective. I know little about the technical details of the protocol/token etc.
From an EW perspective price looks to be inside a bullish wave 3 with the target at the 1.618 extension.
Lets see what happens.
