Stellar Lumens' chart and fundamental analysis

Stellar Lumens' chart and fundamental analysis

By Emad | honarparvar | 1 Sep 2020


Stellar Lumens has recently released SEP-30 wallet recovery. well, I don't want to dive in technical issues here but honestly I posted some concerns on their forums... I will update some conclusions here if I found them interesting.

but let's get in to charts:

d551404c4b2245a2f47f5ea23be8dfeb44b4b756e4ab17ef2df0008026404aaf.png

this is daily chart for XLMUSD and if I want to be straight, I have to say it will be a clear bull run if the price gets out of that cloud from its top. the channels you see in the chart are drawn in weekly timeframe and they are strongly bullish, the supports are properly functioning and the Altcoins are still steady in growth.

let's check a lower timeframe, 4h, XLMUSDT this time (a little difference):

25c0867d6b64f6dacb7e2367fe67e0f381db1b011fe5434ccfe33349ba441605.png

what you can see here is a downward channel has been broken and the price is struggling to leave the cloud for a reversal of trend.

I have bought XLM on it's pullback (it was a bit risky trade) and now I'm in 5% profit so far. but honestly, it scares me a bit.

my target is 0.114 USD or USDT which I think will be safely touched. let's see what will be next.


Emad
Emad

Blogger, business developer and Crypto enthusiast


honarparvar
honarparvar

Writing is my addiction!

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