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
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.