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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

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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