Stellar Lumen ($XLM) Analysis!

Whats up everyone!?

Today we are back with a small update on XLM.
We got a request from one of our followers, to provide our analysis on XLM. 😀

Here are the timeframes we are considering right now (1D and 4H)

Due to high volatility in the market, smaller timeframes may not be suitable for analysis right now, but we will keep you posted as soon as we get an opportunity.

Our overall bias on $XLM: Neutral to Bullish.

We will be charting Both XLM/USD and XLM/BTC pairs.

First we will be charting on the USD pair:

XLM/USD 1D

Chart:

Overall Bias: Bullish
Buy zones have been marked!

Points to note:

It broke above an almost long 550 day consolidation, or a falling wedge, which is very bullish in long term, so look out for buy zones, accumulate in these zones with stoploss.
It is approaching the smaller daily resistance on daily, so, I personally feel waiting to see the reaction at these levels will be worth it.

Otherwise, if you are a HODLer, you can start buying in small quantities with stoploss at the appropriate levels.

XLM/USD 4H

Chart:

Overall Bias: Neutral to Bullish
Buy zones have been marked!

Points to note:

Approaching the resistance marked on 1D chart, a close above will be bullish. Buy the breakout
Overall trend: Up, so you can also buy the retest of the bullish trendline.

XLM/USD 4H (Moving averages and RSI; Because there is a small divergence)

Chart:

Overall Bias: Neutral

Points to note:

There is a small bearish divergence, so if you are considering the 1D timeframe,you can wait for a pullback! This is a supporting chart that there may be a small pullback.
Price is making higher high on smaller timeframe, and RSI is making lower low on lower timeframe.
Note that this is a weak divergence, but may play out and break down as well.