Stellar Lumens (XLM) trading cryptocurrency market update for Mar 8, 2019

Mar 11, 2019 --- Altcoins

Stellar Lumens (XLM) trading cryptocurrency market update for Mar 8, 2019

Weekly Chart

Stellar Lumens v's Bitcoin chart is certainly looking better from a weekly perspective than it has in many months as a rounded bottom inside the OTE long zone and upper demand area is forming while momentum is fully recharged and the Ichimoku Cloud is bullish out in front of the market, all encouraging signs for the bulls moving forward, however SCMR signals remain solidly red, all of the moving averages continue to fall, and dynamic resistance continues to build overhead, so there is still the very real risk of a breakdown below 0.0000x which would likely spark a crash down to the psychologically significant 0.0000x region. That said, if 0.0000x can hold over the next few weeks and we finally get a reversal signal to work with then there is a lot of upside heading into Spring (which tends to be seasonally favorable for the crypto space).

Short term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.0xxx - 0.0xxx area with a stop just below 0.0xxx and a target of 0.0xxx.

Medium term Members ProTrade - We will consider a LONG position on a continuation down to the 0.0xxx - 0.0xxx with a stop just below 0.0xxx and a target of 0.0xxx.

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