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

Crypto Technicals: XLM/USD recovery from 4-month lows lacks traction, more weakness on cards

XLM/USD chart - Trading View

Exchange - Kraken

Support: 0.08 (Mar 4th low); Resistance: 0.0911 (5-DMA)

Technical Analysis: Bias Bearish

XLM/USD trades 1.62% lower on the day at 0.0842 at 12:50 GMT, major trend is bearish.

The pair has retraced from session highs at 0.0883, scope for further downside.

Price action extending weakness below 200-DMA. Convergence of RSI with price action adds to downside pressure.

The pair is attempting minor recovery after Doji formation on Monday's candle.

However, recovery attempts lack traction. Upside rejected at session highs.

Next major support lies at 88.6% Fib at 0.0775. Break below eyes 2019 lows at 0.0665.

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 0

Comment tips

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

0/1000

Comment tips

Great article. Requesting a follow-up. Excellent analysis.
1