Doing this per request. Please be patient as each chart takes me some time.
Fundamentally, from what I can remember. XLM is similar to XRP and at some point the same developer(s) of XLM worked on XRP. There was a dispute and here we are now. At some point in June or so there was a major dump of stellar due to free coins entering the market. That is over now and I am not sure what Stellar is up to now.
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From a technical standpoint stellar has retrace more than 88.6% of its major run up, much like many of the other altcoins so nothing out of the ordinary.
We can see on the weekly stochastics showing deep oversold levels.
On the Daily we can see XLM tested the 400 level vigorously before being rejected. Though we still don't have a reversal signal, now is the time to be looking for one.
The 4 hour chart is showing a 5 wave count about to finish based off the previous times of the last impulses. However stoch and rsi are entering overbought territory now and it would be wise to be patient before jumping in.
Looking at the 1 hour, I would wait for a bull signal to form, (depending on your strategy) if you want to get in early. If you miss that and it continues going up, wait for it to break the CTL and give you sufficient evidence its ready to go.
my 2 cents
This pair is probably seeing gains in respect to xrps recent spike. It hasn't moved like xrp because it isn't xrp. I feel like the recent small bounce off 400 was partly in correllation to xrp in speculation that these two are correlated. (confusing I know) Basically a self fulfilling prophecy.
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Bottom Line. Bullish.
Looks good for another move up to at least the weekly 618. But it could go as low as 200 before reversing. So trade and enter at your own risk.
Fundamentally, from what I can remember. XLM is similar to XRP and at some point the same developer(s) of XLM worked on XRP. There was a dispute and here we are now. At some point in June or so there was a major dump of stellar due to free coins entering the market. That is over now and I am not sure what Stellar is up to now.
.
From a technical standpoint stellar has retrace more than 88.6% of its major run up, much like many of the other altcoins so nothing out of the ordinary.
We can see on the weekly stochastics showing deep oversold levels.
Looking at the 1 hour, I would wait for a bull signal to form, (depending on your strategy) if you want to get in early. If you miss that and it continues going up, wait for it to break the CTL and give you sufficient evidence its ready to go.
This pair is probably seeing gains in respect to xrps recent spike. It hasn't moved like xrp because it isn't xrp. I feel like the recent small bounce off 400 was partly in correllation to xrp in speculation that these two are correlated. (confusing I know) Basically a self fulfilling prophecy.
.
Bottom Line. Bullish.
Looks good for another move up to at least the weekly 618. But it could go as low as 200 before reversing. So trade and enter at your own risk.