So what happened?

In the resent days we have seen a massive blood bath in the crypto world all around, mainly due to the massive dump BTC made recently. And Stellar did not receive any mercy.

So what will happen next, well nobody can for certain know, but we could try to estimate a probable outcome! So today i would like to show you my latest analyse of the charts and what may could happen!

First, let's take a look at the rsi from the daily chart right after the big rally we had in the beginning of the year. Here we can spot some bearish divergence.

If we look to the higher low that Xlm made we can see that we have some bullish divergence.

Now look at the recent higher low it made on the 2h chart, there we can see that there is some hidden bearish divergence, with the rsi making a higher high.

Unfortunately it also got rejected twice at the EMA12 on the 2h chart.

What to look for now?

Right now i think it is more probable that we most likely will see a retest of the previously lows it made on the 11th of January. If that happen we can confirm that as a strong support, And then later bounce back and brake this triangle formation to the upside. If that happen then it will need to brake above some key resistances, and most importantly the high it made between the 6th and 7th of January. But i do think it is possible with an impulsive uptrend to reach above it!

I marked out some key price levels for support and resistance to look out for in the picture above, also a theoretical measure price target of 0,542$

Thank you for tuning in and hopefully this report was somewhat helpful to you!