XLMUSD - 1D Chart Analysis
Based on very low trading volumes, the price has started to decrease since 21st of October and it has also crossed the 20 days Moving Average, consolidating the bearish trend.
At this stage, it seems that the RSI is heading slowly towards the "oversold" area while the Stochastic is indicating that there's no possible change of the direction for now. Also, the MACD line is below the signal one, which means that the downtrend has big chances to continue.
If the trading volumes will remain the same, it seems that the first level where the price may find difficulties in going even lower is the Support Level 2 of 0.2072$
At this stage, it seems that the RSI is heading slowly towards the "oversold" area while the Stochastic is indicating that there's no possible change of the direction for now. Also, the MACD line is below the signal one, which means that the downtrend has big chances to continue.
If the trading volumes will remain the same, it seems that the first level where the price may find difficulties in going even lower is the Support Level 2 of 0.2072$
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