Symbol (XYM) | Strong, Double Bullish Divergence & MoreSymbol (XYMUSDT) is showing some early reversal signals, based on the candles, but this time we will use the help of the oscillators to predict what will happen next.
Good Tuesday my fellow trader, today is the eclipse (full Moon) and the week is still young... Let's see what it has to bring us all.
➢ XYM is trading near support, a new All-Time Low, and this is good of itself when we are looking for growth potential. We have a reversal candle in the present session, and bullish volume is also present on the chart.
➖ Long-Term Bullish Divergence | MACD
Looking at the MACD, we can see that it bottomed in June 2022. XYMUSDT bottomed August 2024, that's a strong bu-divergence.
Looking closer at the MACD, we can see higher lows since May 2024 and a bullish cross; it is trending up.
These are bullish signals and while the main pair is down, it reveals the potential for a reversal.
➖ Long-Term Higher Lows & Bu-Div | RSI
The RSI shows three major lows; May 2022, June 2023 and August 2024. There are also higher highs, it has been growing long-term.
It is trending up and also reveals potential for a reversal to happen next on the main trading pair.
This pair has been going down, but everything is pointing toward a bullish wave in the coming months... Prepare for marketwide growth.
Thank you for reading.
Namaste.
