On the priceline has broken down 100 and 200 simple moving averages. But after breaking down 200 the indicators are turning . For example the moving average convergence divergence and indicators are turned strong and momentum is turned weak from strong .
On the price line of XLM is also moving in . The of the complete channel is showing very weak interest of the traders at the level where the priceline is moving at the moment. In indicator the new is also appeared at the high altitude from the resistance of the channel. Therefore the priceline is trying to break out the resistance without touching at the support.
On the the price action has also entered in the potential reversal zone of and moving up from here.
The price action has formed on weekly chart, even though this pattern is considered as reversal according to most traders. But due to strong support of SMAs and BAT move on the we can expect a rally to the upside atleast up the resistance of .