Anyways, I am still very on lumens. As we've seen, xlm has pushed 1.8k sats without any news thus far and the only thing that is really holding xlm back is BTC's movement. Everyone is eagerly waiting that major market mover announcement and we all know that its coming early Q1 2018!
If you look at the chart on a 1hr time frame, you can see that an are forming (the right shoulder still needs time to finish forming). Regardless of this inverse head and shoulder, it will be pivotal that BTC is holding stable AKA sideway market. However, BTC's movement will not be of much importance if the major market mover announcement is announced. Anyways, the inverse head and shoulder formation is a sign that can not be ignored. Hopefully BTC will be the bigger coin and let lumen rise.
Last, this is, in no shape or form, investment advice. This is just my take on STR's chart. Happy investing guys!
There is a clear rising wedge for STR! We are entering the last part of the wedge so expect a movement soon. XLM has exploded within the last few days and there are still bullish signs that indicates that the end of the wedge will bring us to a new ATH. Our first objective is to tackle the previous resistance at roughly 2.8k. The target price that I am eyeing is roughly 4000sats. This is based on previous resistance that STR has shown in the past, particularly during MAY2017.
Happy investing guys and wishing ya'll a happy new years!
STR has hit the resistance line I had at around 3.9k. It has retraced to the .786 fib number since but I believe that it might even go to roughly 0.618 fib before finishing the ABC correction from this bull run. My next TP that I am eyeing is the previous ATH during MAY2017. With the MMM announcement just around the corner.... anything can happen. Holidays are over and with them the crypto talks between family members. Coinbase is and will continued to be flooded with new investors (which would take about 7-10days given the increased traffic from the holiday's deposits). Perhaps lumen will break away before the new money starts to flow in, but I do expect some sideway movement before the next leg up.