XLM/USD Medium-term Trend: Bearish
Supply zone: $0.2000, $0.2500, $0.3000
Demand zone: $0.0800, $0.0600, $0.0400
XLM is in a bearish trend in its medium-term outlook. The bullish momentum was lost at $0.1322 in the supply area after the candles closed with wicks. The bears took control with a large engulfing candle as it breaks the two EMAs.
XLMUSD dropped initially to $0.1171 and later to $0.1050 in the demand area before the session came to an end yesterday.
The bears' pressure was sustained as the market opens today’s as a low of $0.1058 was attained after a brief touch at $0.1109 in the supply area.
The stochastic oscillator is in the oversold region and its signal point down at 16% and price is below the two EMAs and it implies a downward momentum in price in the medium-term.
XLM/USD Short-term Trend: Bearish
The cryptocurrency is in a bearish trend in its short-term outlook. The strong bearish pressure drops cryptocurrency to the low of the day at $0.1050 as bull stage comeback. The bullish momentum creates flags that later return the bears with stronger pressure after exhaustion.
The 10-EMA is acting as s strong resistance against bullish movement in the short-term. Price is below the two EMAs and the stochastic oscillator is in the oversold region a move to the downside is expected in the short-term.
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