Stellar Lumens (XLM) Price Prediction 2019 – Defending The 1440 Sats Level Before Moving Up (May 16th Update)

Mid May Update: Technicals

XLMBTC is coming alive, along with the rest of the altcoins market. It doesn’t show on the daily timeframe but when we zoom in on 4H, there is an obvious increase in volume and ATR (volatility) that are usually indicators of a trend reversal. XLM did violate coupe of strong support zones and we would first need it to hold the 1440 level and claw back up to the 1753 sats zone before we can talk about a real bull trend.

As you can see, the 1440 sats zone is a confluence of EMA20 and MA50 and Fib236 and this is the must-defend support for XLM to sustain the bullish uptrend. Should it succeed, we can see a 5 impulsive waves move: up to the Fib50 at 2120 sats and then after a potential correction a swing higher to 2600 and Fib786.

If the 1440 sats level fails, we are probably heading back down to the 1250 sats zone or even lower to 1100 sats.

Trend on the daily is still clearly bearish as we saw our first green candle in a month. XLM closed two red candles, forming a mini double bottom in the last two days and it needs to close the current candle above the 1440 level so the above setup stays valid. All moving averages are ahead of it and need to be smashed. There is a lot of ground to gain before we see a bullish cross of MAs.

Weekly chart still shows potential falling wedge – a bullish trend reversal indicator. This setting is somewhat invalidated but it could still play out should volume pick up.

One thing to bear in mind is the turbulent and erratic nature of bitcoin – a sudden thrust up or slide down is always on the cards which would invalidate this and all other analysis and predictions. In such cases, market is shaken up with most traders exiting altcoins and entering bitcoin positions, especially in…

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