Crypto Screener Forums Stellar (XLM) Forecasts – Technical Analysis Stellar (XLM) Technical Analysis – January 2018 Reply To: Stellar (XLM) Technical Analysis – January 2018

#1468
CheesePuff
CheesePuff
Moderator

A look into the Stellar market for the upcoming week.

XLM 27 Jan 2018

We can see Stellar has formed an undeniable cup on the one day candles. We can assume that the handle (minor correction) might form over the next couple of days.

When we look at a longer time frame, chart formations are more valid than on a shorter time frame.

Short term support is around 5 000 satoshi, with the medium between 4 000 and 4 500 satoshi.

The Stellar market is very bullish in our opinion, however we might face a small correction before we might get a breakout trade above 6 000 satoshi. Which is also the strong resistance at this point.