Bears in control of $XLM

27 gen 2019

XLM update

Price did, in fact, fail to hold key support level of 3k sats. About to close a 7th straight red daily, with today's candle gaining downside momentum.

Its oversold on all timeframes, as you can see on both the RSI and Stoch RSI. So, I wouldn't be surprised to see a relief bounce around the March 2017 swing low at ~2550 sats, which is the yellow dotted line on the chart. I'm not interested in playing it until price finds footing, but if I were looking to get long I'd want to see sellers loosing momentum and buyers stepping in near that swing low area.

Measured move of the failed descending triangle does land around 2250 sats.

-Bueller

Twitter @BuellerFund