XLM had some nice gains after the big crash... which can't hold on forever unfortunatly.
MACD was also overbought on the Daily and broke down of the trend we where in today, when historically this happenend we stayed going to the downside for a month.
We broke down from some sort of a triangle pattern while having some bearish divergence on the lower and daily time frame.
Which resulted in us getting pushed down to currently €0,057577 and so breaking the 20 DMA.
For the coming dayz I'd like to see a retest of the 20 DMA like we previously did and continue further to the downside.
support levels : 100 & 200 DMA then 50 DMA with another one arround €0.04 . If we couldn't hold those we would see a further drop to €0.025.
If we would hold support at or arround €0,04 and going back up again an Inverse Head & shoulders would be possible. This would mean bears are having less power over the bulls.
Not financial advise do your own research, and happy trading for everyone !
MACD was also overbought on the Daily and broke down of the trend we where in today, when historically this happenend we stayed going to the downside for a month.
We broke down from some sort of a triangle pattern while having some bearish divergence on the lower and daily time frame.
Which resulted in us getting pushed down to currently €0,057577 and so breaking the 20 DMA.
For the coming dayz I'd like to see a retest of the 20 DMA like we previously did and continue further to the downside.
support levels : 100 & 200 DMA then 50 DMA with another one arround €0.04 . If we couldn't hold those we would see a further drop to €0.025.
If we would hold support at or arround €0,04 and going back up again an Inverse Head & shoulders would be possible. This would mean bears are having less power over the bulls.
Not financial advise do your own research, and happy trading for everyone !
