STELLAR (XLM) Daily Price Forecast – October 12


XLM/USD Medium-term Trend: Ranging

Supply zone: $0.3000, $0.3500, $0.4000 Demand zone: $0.1500, $0.1000, $0.0500

XLM returns to the range in its medium-term outlook. The strong bearish pressure from the news of the American Association of Retired Persons dropped the coin to $0.2063 before the end of yesterday session.

The 4-hour opening candle at $0.2063 was bullish suggesting the bulls return. Earlier today XLM was up $0.2219 in the supply area. The stochastic oscillator is in the oversold region at 22% and its signal points up. This implies upward price movement due to bullish momentum may likely occur within the range in the medium-term.

XLM is in consolidation and trading between $0.2391 in the upper supply area and at $0.02053 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position.

XLM/USD Short-term Trend: Bullish

The cryptocurrency is in a bullish trend in its short-term outlook. The bullish pressure from the $0.2050 in the demand area pushed price up $0.2249 in the supply area.

Price is above the 10-EMA with the stochastic oscillator at 76% and it signal points up which imply upward price movement.

The upward bullish movement could be up to 61.8% or 78.6 in the Fibonacci tool before bears return to continue the journey downward.





The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research

Publication date: 
10/12/2018 - 13:24