XLM – ALTCOIN CHART ANALYSIS

XLM (StellarLumen) is in a continuous downtrend. We did see a short breakout once, but it was a fakeout.

Right now we are trading around $0.12 and continue to make lower lows and lower highs. Thus, the structure remains bearish and we see no signs of a trend reversal.

Currently the monthly support S2 gives us some support and we are consolidating on this one. However, this has been holding for quite some time and is becoming weaker from time to time, as there is a lack of liquidity in this area.

We see a similar picture on the daily chart. Neither the RSI nor the MACD or other indicators are currently predicting a trend reversal, so we have to be prepared for further downside.

Especially the zone marked in green could be interesting. This is between $0.093 and $0.10. There are the large stop losses of the positions opened at the wick.

Seeing little movement, this is currently the most likely scenario for us to grab this area before we can start a trend reversal (at least in the short term).

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