Supply zone: $0.2000, $0.2500, $0.3000
Demand zone: $0.0800, $0.0600, $0.0400

XLM is in a bullish trend in its medium-term outlook. The formation of higher highs and higher lows that are characteristic of up trending market shows the bulls market dominance.

From $0.1156 in the demand area on 19th December the strong bullish pressure pushed the cryptocurrency up to $0.1360 in the supply area on December.

Price is above the two EMAs crossover an obvious sign of bullish pressure. As more candles formed and closed above the crossover, $0.1400 in the supply area remains the bulls initial target in the medium-term.

The cryptocurrency is in a bullish trend in its short-term outlook. XLMUSD is in an upward channel. Each touch on the upper line results in a bounce by the bears while a touch at the lower line returns the bulls.

After attaining a high of $0.1360 at the upper line of the channel the bulls lost momentum as bearish candle signal the bears' gradual return. XLMUSD was down to $0.1225 in the demand area as the bears' pressure decreases towards the lower line of the channel.

Price is above the two EMAs and the stochastic oscillator signal points up at 33%. These suggest an upward movement I price of the cryptocurrency in the 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.

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