XLM/USD Potential Trend Change?

3 apr 2018

XLMUSD seems to have broken out of the descending pattern on the 4hr time frame which can potentially indicate a change in momentum towards the bulls; however it is key to note that unless the $0.282 resistance is broken on the daily charts, this may just be considered as a bounce attempt due to the low RSI levels. There has been no signs of increasing volume so this may just be a continuation of the bearish trend and the chances that further lows to below $0.15 still loom. At this time no long trades are advised on the XLMUSD pair unless a clear break of the $0.282 resistance is noticed and sustained.

NB: The ideas expressed should NOT be taken as instructions, rather as an opinion/perspective to consider when entering a trade.

All the best for future investing!

Ash