- Nov 22, 2014
- Reaction score
XLM USD technical analysis
On this morning the XLMUSD crypto pair shot up quite strongly, after the opening price was recorded to have increased more than 11%, this is a volatile pair and provides an opportunity to gain short-term profits.
The development of Stellar itself has had a good impact on market development, users have realized that the possibility of a stellar network will grow well making it have a gradual rise in value.
After prices fell in March, the growth of most crypto began to rise following the market trend, at a time when prices were low many investors began to dare to enter at low prices, which pushed prices back up.
XLMUSD's daily timeframe shows that the uptrend is still ongoing, the current RSI value refers to the daily timeframe at 57.85, indicating the price trend is in the bullish market zone.
But in short term trading, at the moment H1 is now RSI approaching the overbought zone at the level of 68.16.
Overall the trend is still dominant bullish so that the opportunity to look for prices to bounce to the best possible and not forget the risk management
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