Based on the fact that BINANCE:XLMUSD.P is positively correlated with BINANCE:XRPUSD
It makes sense to expect between 10-15% pump from the current support level.
However, XLM is more volatile than XRP, but they often exhibit similar price action on higher timeframes.
I am going to open a long position on this with 5x leverage as usual:)
The pattern looks...
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.
"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. :)"
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...
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
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...
This is a daily chart of XLM and price appears to be making a double bottom with money flow rising from the red and divergence nearly confirmed on the daily.
Current trading plan is long entry from current price with a 1-3% stop loss invalidation area.
Target 1 will be a 1/3 retrace of the last swing for approximately 5% and the second target will be the center...
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.
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.
hi traders, im spotting a bear flag in play for xlm, she is trying really hard getting out of it but bulls may get tricked in this one, lets see how it plays i wil post a short position in here just for fun and educational pourposes
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.
Current Position: XLM price stands at $0.129, with an intraday drop of 3.22%.
Dominant Pattern: Double-bottom reversal visible on the daily chart.
Key Support Confluence: 61.80% Fibonacci level at $0.10, coinciding with the 200-day exponential moving average.
Recent Performance: A notable 14% rally in the last 10 days, with XLM surpassing the $0.12 mark and...
