News is constantly being released on the wire that XLM or Stellar has released 500 Million XLM tokens to holders of the BlockChain Wallet. The potential of a Coinbase listing next Thursday and on the 1st of December 2018, the Lightning Network launch. Nouvive & Nouvive Research anticipates this will cause a 90% Spike
What does the Technical Analysis show?
- On the higher time frames, XLM was rejected at the $0.272 line, aiming to fall just above the 15MA and resting on the 0.618 Fibonacci line which is $0.24.
- Accumulation has spiked since the beginning of November with Volume increasing to match this.
- Over the past several days, it appears that Volume has gradually decreasing indicating that a large move will occur shortly. Nouvive anticipates that this will be for a large move upwards – potentially to the $0.30 line.
- On the lower time frames, XLM appears to be refusing to dip below the 15MA line – indicating that perhaps we will not see $0.24.
- Accumulation over the past several hours have increasingly spiked up, indicating that more individuals are aiming to get into the trade.
- RSI Stochastic on the higher time frames are OVERSOLD and in the process of crossing over illustrating a BUY Signal
What Levels should I look for?
- To Buy: $0.24
- Realistically $0.24 will not hit as a result of the bullish behaviour on the lower time frames, the current price at $0.25 looks like a perfect level to enter.
- First Resistance is $0.272
- Second resistance is $0.30
- Third resistance is $0.46
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