Stellar Lumens technical analysis
Technical analysis is the study of market data to provide insight into the price movements and they are used by traders to decide when a specific trade would be best. These trades may be trades of stocks, commodities, currency pairs or crypto assets. For Stellar Lumens we can examine the 4 hour chart and take a look at the levels of support and resistance on this chart. These levels are shown as S2 (H) and R2 (L). Now if you take a look at this chart we can see that there’s strong support around R1 (H) which is at $0.10686 per XLM. This is a key level and it’s not just a support, but it’s a resistance for any price action that’s going to move in the upward direction.
We can see from the latest fiat currency pair, that we’ve seen an upward movement from $0.10686 and we’ve hit our first local high of $0.10717 per XLM which is at R1 (H) at $0.10717 per XLM (S1). We can see that there was resistance at R2 (L) which is our yearly low for this year, but we broke through this level as well and moved past that low as well to trade towards S2 (H) which would be a new all time high.
Q: What is the difference between technical analysis and fundamental analysis?
A: Technical work on price action and fundamental analysis uses the information that’s available in the market to make its own conclusions about the progression of a coin.
Q: Can you give me an example of how to use technical analysis?
A: If you join our Discord channel you can ask there. I hope we can introduce ourselves to each other a bit more and I’ll be able to guide you through this process better.
Q: Why is it important to do both fundamental analysis and technical analysis?
A: Doing only one of these phases can be a bit frustrating, if you don’t understand what you’re looking at, because there are many different uses of technical indicators. You must have both in order to make sure that your investment decisions are well thought out.
Q: Are there any additional resources that I should know about?
A: Yes. The best way to learn new information is through well run trading communities. There is a lot of information out there, but it’s all a matter of how you choose to integrate it with your own personal style and knowledge base. A good place to start for Stellar Lumens is our Discord server. We have a lot of traders, but we also have information from people who have been with the coin since its start. There are many different types of “traders” and we’re hoping to be able to create a community where you not only learn about trading, but can share your knowledge of the coin as well.
Stellar Lumens price prediction
The price prediction for Stellar Lumens is a very hot topic right now. We’ve seen several different price predictions and they’re all over the board. Some of them are saying that we’ll see a return to $0.10, while others are saying that we’ll rise to $1 or more. What’s important, and what many people don’t realize is that there’s no way of telling what the price will do in the future. It’s important to always remember that Stellar is still only about 2 years old and it still has time to grow further.
We can take a look at some technical indicators that could help us to make our own price prediction for the future. We can see from the chart that there’s a strong upward trajectory at the moment and we’re starting to climb towards R2 (L). This is an important level for us because it would represent a push through our all time low for this year. We can see that any downward movement will be met with strong support at R1 (H) which is currently holding at $0.10717 per XLM.
The current price if you look at the dollar pairing versus Stellar Lumens, as seen in the image below, is trading above its 50 day moving average and it has also found resistance over its 200 day moving average. We can use this information to make a price prediction based on support and resistance in these areas.
