STELLAR (XLM) Daily Price Forecast – January 29

2019-1-29 17:33

 

XLM/USD Medium-term Trend: Bearish

Supply zone: $0.2000, $0.2500, $0.3000
Demand zone: $0.0700, $0.0500, $0.0300

XLM continues in a bearish trend in its medium-term outlook. The strong bearish pressure was sustained at the beginning of the new week with the cryptocurrency down to $0.08500 in the demand area. Minor pullback occurred as price rose to $0.08874 as the session ended yesterday.

The 4-hour opening candle was bearish at $0.08740 which signaled the return of the bears to continue the downward movement. XLMUSD dropped to $0.08200 in the demand area.
Price is below the two EMAs and within the 23.6 fibs.

A pullback may occur which is necessary before the bears stage another comeback. This is confirmed by the stochastic oscillator in the oversold region at 10% in the medium-term.

XLM/USD Short-term Trend: Bearish

The cryptocurrency is in a bearish trend in its short-term outlook. The cryptocurrency kept making lower lows and lower highs each day from 27th January. The low of yesterday session was $0.08500 in the demand area.

Todays 1-hour opening session is an inverted bearish doji an indication of strong bearish pressure in the short-term. XLMUSD was down to $0.08200 before the current flag formation.

The bearish momentum remains strong and may return after exhaustion of the upward momentum.

 

 

 

 

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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$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1107
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bearish xlm trend demand medium-term zone price

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