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XLM/USD Medium-term Trend: Bearish

Supply zone: $0.3000, $0.3500, $0.4000
Demand zone: $0.1500, $0.1000, $0.0500

XLM is in a bullish trend in its medium-term outlook. The strong bullish momentum from $0.1850 in the demand area finally broke the critical zone at $0.2012 and pushed the cryptocurrency up to $0.2148 in the supply area.

Twice the area was retested at $0.2001 in the demand area before the end of yesterday session.

The bullish 4-hour opening at $0.2049 pushed price up to $0.2099 in the supply area earlier today.

The stochastic oscillator at 78% and it signal points up which imply sustained bullish pressure in the medium-term and the cryptocurrency may experience a new high highs.

XLM/USD Short-term Trend: Bullish

The cryptocurrency is in a bullish trend its short-term outlook. Price was above the two EMAs crossover after yesterday opening at $0.2000. XLM was high up to $0.2148 in the supply area before the end of yesterday session.

Despite the bearish 1-hour opening at $0.2049, the bullish momentum was still intact and price was up $0.2099 in the supply area.

The 10-EMA is seen acting as strong support for bullish price upward movement. The stochastic oscillator is at 64% and it signal points up, which connotes an upward price movement in the short-term.




The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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