Stellar Lumens, MATIC, and Tezos Price Analysis: 18 May
Stellar Lumens (XLM)
Based on the drop from $0.15 to $0.104, Fibonacci retracement levels (yellow) were drawn for Stellar Lumens. The 61.8%-78.6% area has offered significant resistance in the past few days. The longer timeframe bias remains bearish, and on the shorter timeframes, the momentum appeared to be neutral.
The RSI hovered about the neutral 50 line and did not show a trend in either direction to be in progress. The A/D indicator has climbed in the past week, to form higher lows, which is evidence of some buying pressure. However, a trend reversal might not be on the cards yet.
MATIC had pretty similar price action to XLM in the past few days, as they both formed higher lows but were unable to break out past resistance levels. For MATIC, the $0.75-$0.79 area has not been flipped from a supply to a demand zone yet.
The Visible Range Volume Profile tool showed the Point of Control to lie at $1.78. This level is where the largest amount of trading by volume has occurred over the visible range on the chart, and therefore it is a significant level for both bulls and the bears.
The MACD formed a bearish crossover and was on the verge of diving below the zero line, while the OBV has been quite flat in the past few days. Hence, there was no real trend behind XTZ on the lower timeframes.