STELLAR PRICE ANALYSIS & PREDICTION (March 14) – XLM Slowly Reaches Oversold, But Long-Term Move May Trigger Further Losses
Advancing bearish over the past week, XLM lost chunks of dollars and tested a key price level yesterday. Following a slight bounce, it trades calmly as it holds this level as support while deciding the next move. During the last leg down, XLM posted significant losses and reached an oversold zone from a short-term perspective. Although that could just be the start if the price continues to dip in the long term. As we can see, its bearish pattern – the lower low and lower high move – is slowly becoming smaller by the week. Technically, the impulsive wave appears weaker compared to when it started to fall from the peak level of $0.65 last November. This indicates an exhaustion in the bearish pattern as it might come to an end soon. On the other hand, the pattern reveals that […]
