XLMUSD, one of the strongest cryptocurrencies over the last two months, has sold off heavily today. After losing the diagonal support line it traded straight down into the support area provided by the lows that have held several times over the last 12 months. At some point a bounce in BTC is inevitable and XLM should follow it higher.
There was a lot of buying last week, and those buyers are all under water now, so the price may trade a little lower. There’s also more downside ahead when priced against BTC. If BTC finds support and bounces ahead of XLM this level will probably be reached.
There was a lot of buying last week, and those buyers are all under water now, so the price may trade a little lower. There’s also more downside ahead when priced against BTC. If BTC finds support and bounces ahead of XLM this level will probably be reached.