Published: 2018-11-30 12:15:38
XLM/USD Medium-term Trend: Bearish
Supply zone: $0.2000, $0.2500, $0.3000Demand zone: $0.1000, $0.0800, $0.0600
XLM continues in a bearish trend in its medium-term outlook. The bullish pressure successfully pushed XLMUSD to $0.1745 in the supply area n 29th November and repeated the same touch today shortly after opening as the cryptocurrency was up at $0.1745 forming a double top closing with an inverted bearish pinbar.
Price is below the two EMAs an indication to the strong bears’ pressure with the stochastic oscillator at 73% and its signal points down which suggest a downward momentum. $0.1480 in the demand area may be the bears target in the medium term as the momentum downside increases.
XLM/USD Short-term Trend: Bearish
The cryptocurrency is in bearish trend in its short-term outlook. Rejection against upward price movement occurred after the bulls had pushed price to $0.1723 in the supply area.
The bears’ gradual return was signalled by the bearish candle at $0.1700 but final confirmation to the bears’ control was with a large marubozu candle at $0.1659 that broke the two EMAs and drop XLMUSD down to $0.1554 in the demand area.
Price is below the two EMAs and the stochastic oscillator signal points down at 28% which implies downward price movement in short-term.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research
The views and opinions expressed in the article STELLAR (XLM) Daily Price Forecast – November 30 do not reflect that of 48coins.com nor of its originally published source. Article does not constitute financial advice. Proceed with caution and always do your own research.