Stellar Lumens [XLM/USD] Technical Analysis: Altcoin trying hard to recover after grizzly rampage
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Stellar Lumens [XLM] is steadily climbing after yesterday’s flash crash, indicating that the market might be stabilizing.
1-hour
The Bollinger Bands shows the candles above the exponential moving average indicating a bullish move. The bands are closer to each other indicating low volatility in the market.
The MACD line has crossed over the signal line clearly indicating a bullish move.
The RSI is at the center indicating the selling and the buying pressure is canceling each other out.
1-day
The downtrend can be seen in a range of $0.3693 to $0.2522 since May. A small uptrend in the range of $0.2108 to $0.2219 can be seen as well.
The short-term support can be seen at $0.2056, with a successive support seen at $0.1769, while resistance can be seen at $0.2390 and at $0.3335.
Parabolic SAR indicates a bullish move as the markers are formed well below the candles.
The Awesome Oscillator shows a few red spikes just starting to emerge, indicating money going out of the markets.
The Stochastic Indicator has seen a cross-over to the bottom indicating a bearish move.
Conclusion:
The Bollinger bands and the MACD indicators show a bullish presence in the one-hour charts, while the RSI indicator is neutral. The Parabolic SAR indicates a bullish move, but the AO indicator shows that money is going out of the market while Stochastic indicates a bearish move.
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