Back to top
  • 공유 Share
  • 인쇄 Print
  • 글자크기 Font size
URL copied.

Crypto Technicals: XLM/USD breaks strong trendline support, hits 9-week lows, bias bearish

XLM/USD chart - Trading View

Exchange - Kraken

Support: 0.0862 (May 9 low); Resistance: 0.0991 (5-DMA)

Technical Analysis: Bias Bearish

XLM/USD has broken strong trendline support, bias is strongly bearish.

The pair has hit 9-week lows at 0.0876, and is currently trading at 0.0893 at 07:20 GMT.

Technical analysis shows further weakness in the pair. Price action extending weakness below 200-DMA.

Volatility is rising and RSI nicely converging with price action. ADX is rising in support of downside.

Markets look forward to Stellar's Meridian Conference event scheduled in Nov for cues to boost value.

For now, bears eye 0.08 (Mar 2019 low). Further weakness will see test of 0.0775 (88.6% Fib).

Immediate resistance is seen at 5-DMA at 0.0990. Break above 200-DMA required for upside continuation.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Most Popular

Other related articles

Leading article

Ripple Locks 400M XRP in Escrow Amid Ongoing Token Management Shifts

DOJ Seizes $225M in Crypto from Pig Butchering Scam, Signals Tougher Crypto Crime Crackdown

Dogecoin Eyes Reversal at Key $0.152 Support Level

Ethereum Faces Crucial EMA Squeeze as Breakout or Breakdown Looms

Comment 75

Comment tips

Great article. Requesting a follow-up. Excellent analysis.

0/1000

Comment tips

Great article. Requesting a follow-up. Excellent analysis.
alert("SQLSTATE[42S02]: Base table or view not found: 1146 Table \'tokenpostcom.ExperienceClient\' doesn\'t exist");