We can see Lumens trading within a clear descending triangle on the 2 hour chart.
I would open a position once there is a clear break and close above the descending line.
RSI is also trading within the same pattern.
The fundamentals are excellent with Stellar Lumens. So I expect it to bounce back strong very soon.
Note: Not financial advice. Charting what I see.
We have broken out of the long term falling wedge and broken above the 20MA as well. The descending triangle the RSI was trading in has also been convincingly broken.
One thing I find interesting is that the 20MA seems to be forming a double bottom at the exact same position. If past performance is an indicator, we should be seeing significant movement upwards in...
We can see that Lumens have been trading inside a bearish descending triangle in the long term since Jan 2018.
But looking at the somewhat short term (start of May) we have been trading inside a falling wedge, which is bullish.
We will be hitting a critical long term support level at 0.185 soon enough. If the current sentiment continues, I expect it to break that...
We know that there's a lot happening behind the scene for Stellar. I'm super bullish XLM in the long term, but the charts show a short in the coming few days.
As you can see, there is a descending triangle forming on the daily. Will see a clear break up or break down in the next couple days. Chart points towards a break down.
Disclaimer: Not financial advice....
I charted this for my own benefit, but figured I'd share it publicly.
Right now, the long term trend line has been broken and we can see how the horizontal green line is acting as resistance. The set up right now is a bullish ascending triangle. A clear break above the horizontal resistance should signal a move higher.
Other possibility is that we can drop back...
We can see a bull flag forming for Lumens after the big push up we had yesterday.
You can enter a position now, or if you want to be safe, enter a position when there is a clear break from overhead resistance. Target is the breakpoint + 550 sats.
Please note that this is not financial advice. DYOR
I have kept the chart simple just showing the resistances we have to break for Lumens to continue its uptrend. If the first target is broken, we will be breaking the ascending triangle and continuing its merry way North. The next targets will be validating three Head and Shoulders I see that have formed along the way as the left shoulders on the way down in the...
Just posting the pattern I'm seeing on the weekly. We have been forming the handle for the past few weeks. If we see a sudden movement upwards in the next couple weeks, coupled with a significant increase in volume, we can expect a target of above 9500 sats. The pattern in voided if the price can't break the previous high. The target is based on the depth of the...