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XLM Daily Analysis: $0.13 & The Possibilities

XLM, the fourth largest Digital Asset has seen a 12% increase, before 2% being shaved off last night as it seeks to cool down before making the next step to $0.13.

What do the charts say? 

Bullish

  • XLM cooled off to the 0.786 fibonacci at $0.118 before making another leg up by 0.45% – it appears that is where XLM will find temporary support before it bounces up to seek to break the $0.13 resistance.
  • On the lower time frames, the 15/55/90 MA’s are set to cross-over the next few hours, that will provide it enough momentum to break past the temporary resistance.
  • Accumulation despite topping up during the past few hours, is slightly increasing up 2% on the day.
  • Market sentiment is slowly increasing; partly owing to anticipation of a Coinbase listing shortly.

Bearish

  • A close below $0.108 would represent a bearish cooling off period – especially over 48 hours.

Nouvive Says: XLM has found temporary support at $0.118 seeking to wait for both how BTC is able to find a definitive support and for the Moving averages to cross-over. It is more than likely we will see a $0.136 break during the course of the day.

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