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Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542

Thu, 22 Aug 2019, 08:04 am UTC

XLM/USD chart - Trading View

Exchange - Kraken

Support: 0.0632 (Lower BB); Resistance: 0.0737 (21-EMA)

Technical Analysis: Bias Bearish

Stellar Lumens extends weakness, hits multi-month lows at 0.06542.

Bearish trend intact. Price action is below cloud and major moving averages.

Minor recovery attempts capped at 200H SMA which is offering stiff resistance (currently at 0.0661).

'Death Cross' (bearish 50-DMA crossover on 200-DMA) and hidden bearish divergence keep pressure on the pair.

Minor trendline support is seen at 0.0650. Break below finds little support till lower BB at 0.0632.

On the flipside, immediate resistance is seen at 5-DMA at 0.0688. Breakout above 21-EMA (0.0737) will confirm minor near-term upside bias.

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