Stellar Lumens

XLM Price and Chart Analysis on January 23

The lower part of the head and support stand at $ 0.30 and that’s where the bulls entered the trade pushing prices up while the neckline is at $ 0.43 from where XLM buyers find support. XLM Price could be appreciated and the lower resistance trend line will be a perfect sales area. The Fibonacci tool between the potential up-down reversal zones of last week at around $ 0.55 and $ 0.63.

The product behind the token is awesome but why won’t it follow the trend of other high cap coins as they slowly wind down and give up their gains? The general trend is bullish and we might as well argue that we are trading within a major bullish break out trade.

If sellers continue to trend below that main flexible support line then we have reason to start unloading longs going forward.

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