XEM Will Enter Oversold TerritoryThe Relative Strength Indicator is 32 that is near the oversold area, indicating a downtrend is in place. However, it should be noted that the short term price increase for XEM after the coin touch the oversold zone is not what will drives the price. The Moving Average convergence Divergence is also below zero, we have entered to the strong bear market.
The analysis of the daily trends of the XEM chart shows we remain in a bear market with key resistance at the 100-Day exponential moving average and the support of 200-Day EMA. In addition, in the range from 5k to 6.5k Sats was a large volume trade which indicates that this level can become a resistance or act as the support.