Buy the Dip: XLM
It has been known within the community that XLM will be listed on Coinbase, it is unknown When. They also have a lightening main net out on the 1st of December. These two fundamental drivers are enough to power XLM to retest $0.29 despite decreasing by 15% over the past few days. What price should I buy in?
What does the Technical Analysis Suggest?
- A fall from $0.287 to between $0.23-21 would indicate that XLM has completely cooled off since its rise – that would also place it between the 0.236 and 0.382 fibonacci and the previous Swing Failure Low Pattern.
- Accumulation has heavily decreased over the past two weeks.
- On the higher time frame of 1D, RSI Stochastic is in a HOLD pattern and indicates that there is still a move downwards to come down.
- On the lower time frames of 6H, the RSI Stochastic is heavily oversold, matched by heavy sell side pressure over the past 48 hours and accumulation in a nose dive. It appears that a touch of the 200MA would see a dead cat bounce to the 0.5 Fibonacci and $0.255.
- There is a supply zone at $0.235 that is MORE THAN LIKELY XLM will decrease too.
Nouvive sees a Dollar Cost Average approach from $0.235 – $0.2486
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