XLMBTC breaks key support level
XLMBTC finished Saturday at 0.00003424 losing BTC0.00000173 (-4.81%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.
Saturday's trading range was BTC0.00000349 (9.63%), that's above last trading month's daily average range of BTC0.00000269. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
After trading as low as 0.00003311 during the day, the cryptocurrency bounced off the key support level at 0.00003355. The failure to close below the support could increase that levels importance as support going forward. Breaking below the key support level at 0.00003536 today, it is now likely to act as resistance going forward. After trading as low as 0.00003311 during the day, XLM/BTC found support at the 50-day moving average at 0.00003406.
The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Stellar/BTC Index
|Bearish Break through SMA 50||TQ Pro Members Only|
|3 Consecutive Lower Closes||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Bearish Bounce off SMA 50||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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