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XLM / USD Medium-term trend: bearish
Supply zone: $ 0.2000, $ 0.2500, $ 0.3000
Demand area: $ 0.0800, $ 0.0600, $ 0.0400
XLM is in a bearish trend in its medium-term outlook. The bullish momentum was lost to $ 0.1322 in the supply area after the candles were closed with wicks. Bears have taken control with a large engulfing candle as it breaks the two EMAs.
XLMUSD dropped initially to $ 0.1171 and subsequently to $ 0.1050 in the demand area before the session ended yesterday.
Bear pressure has been sustained as the market opens today, while a minimum of $ 0.1058 has been reached after a brief contact at $ 0.1109 in the supply area.
The stochastic oscillator is located in the oversold region and its signal points down to 16% and the price is below the two EMAs and implies a downward momentum in the price in the medium term.
Short-term trend XLM / USD: bearish
Cryptocurrency has a downward trend in its short-term prospects. The strong downward pressure yields the cryptocurrency at a low of the day to $ 0.1050 as a return to the bull. The bullish momentum creates flags that later return the bears with a strong pressure after exhaustion.
The 10-EMA acts as a strong resistance against the bullish movement in the short term. The price is below the two EMAs and the stochastic oscillator is located in the oversold region. A short-term downtrend move is expected.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.
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