After trending sideways for some months, we observe XEM breaking out above its 50MA (green) and the overhead resistance (0.00001650) with a huge surge in volume.
Since November, XEM has been trading in an upward channel, until its recent break to the downside the past couple days. Failing to breakout from the long term moving average 200MA (red), it seems that its looking for the 50MA (green) or previous resistance level (or new support level). An imminent golden cross may seem to be forming, signalling huge bullish move - this occurs when a shorter term MA (green) crosses over its overhead resistance being the longer terms MA (red).
However, it remains to be seen if this pattern completes itself.
Since November, XEM has been trading in an upward channel, until its recent break to the downside the past couple days. Failing to breakout from the long term moving average 200MA (red), it seems that its looking for the 50MA (green) or previous resistance level (or new support level). An imminent golden cross may seem to be forming, signalling huge bullish move - this occurs when a shorter term MA (green) crosses over its overhead resistance being the longer terms MA (red).
However, it remains to be seen if this pattern completes itself.