XLM Daily Analysis: Trading Dangerously
XLM, Stellar Lumens, the World’s Fourth Largest Alt-coin is currently trading in a dangerous position.
What do the charts show us?
- A re-test of $0.124 with a breakout from that area would see XLM re-test the previous trading range of last week at $0.129 – seeing 10% gains during the course of the week.
- A fall from $0.11966 would see a XLM wipe 10% from the value during the course of the week as it falls back to the bottom at $0.10 seeking to find a double bottom.
- Indicators on the higher time frames illustrate that XLM is going to see a dump and following its brief pump at the end of last week it is OVERSOLD by all accounts.
- Market sentiment is decreasing hour on hour.
- Accumulation has been decreasing hour on hour.
Nouvive Says: During the course of the week, XLM is more than likely to go back to $0.10 to find a double bottom there before deciding on what next to do.
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