A run up, correction and another run up, this how XLM does it.
Now it seems like the price of XLM is at the edge of the correction as the 20 and 50 EMA are getting very close to each other which will now eventually lead into a buying volume spike that can result in 100% gains in a matter of few days.
This is the way XLM likes it, drop below support and explode out of nowhere.
Indicators.
Even though the price likes to explode out of nowhere, indicators can give us a bit more info.
Let’s take a look at volume indicator, as this is the one example where taking a look at volume can give you some clues. The volume is really low.
Isn’t that bearish? No, it’s actually pretty bullish.
A lack of volume for such long time is a sign of a calm before a storm. Boring sideways movement before a major rise.
RSI is low enough to see a demand spike. A drop below 40 will likely lead to a bull run. But if RSI stays below 40, that would not be good for the price.
MACD is in a second selling wave, however the selling volume is very limited.
Overall trend based on EMA levels is an uptrend, but the price is currently below 50 EMA which is not ideal in normal conditions, but XLM is looking for such situations as these oversold levels attract buyers.
Now it seems like the price of XLM is at the edge of the correction as the 20 and 50 EMA are getting very close to each other which will now eventually lead into a buying volume spike that can result in 100% gains in a matter of few days.
This is the way XLM likes it, drop below support and explode out of nowhere.
Indicators.
Even though the price likes to explode out of nowhere, indicators can give us a bit more info.
Let’s take a look at volume indicator, as this is the one example where taking a look at volume can give you some clues. The volume is really low.
Isn’t that bearish? No, it’s actually pretty bullish.
A lack of volume for such long time is a sign of a calm before a storm. Boring sideways movement before a major rise.
RSI is low enough to see a demand spike. A drop below 40 will likely lead to a bull run. But if RSI stays below 40, that would not be good for the price.
MACD is in a second selling wave, however the selling volume is very limited.
Overall trend based on EMA levels is an uptrend, but the price is currently below 50 EMA which is not ideal in normal conditions, but XLM is looking for such situations as these oversold levels attract buyers.
