Stellar is currently about 10% off its All Time High having been one of the top gainers over the past few weeks. Now is not a good time to buy. is showing oversold on the 8 hour and has dropped indicating the bulls have lost momentum.
Price jumped off the cloud nicely on Jan 21st but looks to be losing momentum on that run now. I will be looking for the price to return back to the cloud or KJ line and/or 50. Will also look to see how the is behaving (e.g. divergence).
I do think this coin will make many all time highs this year so will be looking to get in on the next accumulation opportunity. Follow this post for updates.
"Luck is what happens when preparation meets opportunity" Seneca The Younger.
Not investment advice.
- On 4HR RSI is reaching oversold levels, price has dropped through the KJ and TK and is now testing the cloud
- On 8HR price is looking to test the KJ and the EMA 50 and potentially the top of the cloud. Volume has been low for some time suggesting bears are exhausted.
- I don't think price will drop back to the lower support marked on the 8HR chart as market sentiment seems to be building from the time that low was reached on the 11th & 16th Jan. Could be wrong of course!!
I am going to pick up a small amount to build holdings if the price finds support on the 8HR levels mentioned above.