Supply zone: $0.3000, $0.3500, $0.4000
Demand zone: $0.1500, $0.1000, $0.0500

XLM is in bullish trend in its medium-term outlook. The cryptocurrency recovery from the drawdown to $0.1924 in the demand area was remarkable. Rejection to further downward price movement occurred at this demand area confirmed by wicks in the candles.

The bulls return was obvious with the tweezer bottom that was formed at the demand area. Price went up to $0.2091 in the supply area above the 10-day EMA before the end of yesterday session.

The 4-hour opening candle at $0.2075 was bullish and price was up to $0.2135 in the supply area.

The stochastic oscillator is at 36% and its signal is pointing up. This implies an upward momentum in price of the cryptocurrency due to the bullish pressure $0.2300 in the supply area may be the bulls target in the medium-term.

The cryptocurrency is ranging its short-term outlook. The bearish pressure was lost after a drop of the coin to $0.1939 in the demand area. Formation of a hammer and a spinning top at this area signal gradual return of the bulls.

The large bullish engulfing candled drove the cryptocurrency price up to $0.2091 in the supply area as the session came to a close yesterday.

The bullish momentum was sustained and price was up in the supply area earlier today as the coin enters into consolidation.

The cryptocurrency is in consolidation and trading between $0.2148 in the upper supply area and at $0.1948 in the lower demand area. Traders should be patent or a breakout at the upper supply or breakdown at the lower demand area before taking a position.

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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