XLM Losing Steam?XLM/BTC appears to be losing momentum.
It has been rejected twice with relatively high volume.
A break below this support line as well as the 0.236 would mean it would need some time to regain steam if it's going to retest the high again.
With BTC looking favorable, these pumped alts will be getting sold off for BTC and are more likely to stop pumping.
The short setup is to open a short when it crosses below the 0.236 fib, or even now.
Then take some profits at the 0.382 and go from there.
Xlmbtc
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Stellar price blasts to the moon following a 78% upswing
Stellar rejected a new yearly high of around $0.44 after a remarkable bullish price action.
XLM/USD must hold above $0.32 to avoid correction to the next support targets at $0.25 and $0.20.
Stellar has in the last 24 hours soared to astronomical levels, perhaps becoming one of the most improved altcoins. The cross-border token is up 78% to exchange hands at $0.33. Meanwhile, it has also corrected from a new yearly high of $0.44.
Looking at the daily chart, XLM was trading in the confines of a descending parallel channel before the breakout came into the picture. Support slightly above the 100 Simple Moving Average came in handy. On the other hand, trading past the 50 SMA boosted the price upwards in a couple of successive bullish candlesticks.
The noteworthy price action has displayed a bullish outlook. However, it is essential to realize that the Relative Strength Index (RSI) shows Stellar is already oversold. In other words, it is essential to tread carefully because a reversal could well come into the picture.
Consequently, the 4-hour chart hints at a possible reversal, especially with the RSI retreating from the overbought region. Moreover, volatility is likely to swing to the bearish side in the coming sessions. The pessimistic outlook is confirmed by the 50 SMA closing the day under the longer-term 100 SMA.
On the other hand, a bullish outlook will come into the picture if Stellar closes the day above the immediate support at $0.30. Besides, gains past $0.35 may catapult XLM to higher levels, and even hit new yearly highs towards $0.5.
Stellar intraday levels
Spot rate: $0.325
Relative change: 0.132.
Percentage change: 78%
Trend: Bearish
Volatility: Low
💡 Don't miss the great buy opportunity in Stellar/BitcoinTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.0000057). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Stellar/Bitcoin XLMBTC is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 62.
Take Profits:
TP1= @ 0.00001170
TP2= @ 0.00001360
TP3= @ 0.00001670
TP4= @ 0.00001980
TP5= @ 0.00002930
SL= Break below S2
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Stellar (XLM) Going Strong, Targets & More (Click here...✅)Just like it happened in late November, Stellar (XLMBTC) is now moving very strong.
Today its prices move simultaneously above EMA300, EMA200, EMA100, EMA50, EMA21, and MA200... These levels tend to work as strong resistance.
And just like we saw back in November, above them we can see even stronger growth.
The chart here is very simple:
1) If prices stay/close above this level, we can expect more up (straight up).
2) But if instead, we see a retrace, we will have consolidation before going up again.
Right now it looks like straight-up is the case.
The potential targets are marked on the chart.
Namaste.
XLM / BTCTook XLM / BTC into log scale & added more time and we can see what the future holds.
1 thing is for certain BTC will most likely continue to climb into 2021 and any dips & pull back will not be a bear market.
So we can assume that we r in a full blown bull market now since May 2020 IMO.
The question is where does BTC top. Most analysis I respect point to a top around $190k.
So If history repeats itself we should see XLM (And all Altcoins) follow a similar path, that path is 18 months from bottom of the range until top of the range.
I have outlined the top of the range with different price targets I strongly believe we will have 6 months over 2021 where BTC will continue to push higher until finally peak is reach sometime this year, If that peak is reach B4 summer than we have our alt coin targets if that peak is reach by end of 2021 then our alt coin targets will be much higher ;).
So the idea is that soon BTC.D will push higher and keep alts under pressure, maybe even 81% BTC.D this will bring the peak in BTC price.
Then Dominance will have small & large corrections in the bull market. This will allow alts to play catch up.
So any and all dips for the next year are strictly for buying and no selling your alt coins until sub 40% BTC.D is allowed by anyone following my analysis or the gods of crypto will fomo you back in at higher prices all year.
XLM at last support Stellar is the hardfork of XRP. The XRP SEC thing is affecting the price of XLM also. XLM is now at the last support zone. This is only TA-based trade and you must have a stop loss as if XRP dumps more we see more dump in XLM too.
Buy zone: 460-470
Target: 525-570-630-695-770-850-930
Stop Loss: 420