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XLMUSD to see an downtrend (1 D) | Lower highs observed

Market in last 1 week
-XLMUSD saw an uptrend and rejected from $0.116
-Price volatility was very high. The market moved ~23.4%, between $0.116 and $0.094

Today’s Trend analysis
-XLMUSD expected to see a downtrend as lower highs are observed
-Price at time of publishing: $0.1016
-XRP’s market cap: $2 Billion
-Oscillator indicators are mostly neutral. RSI at 55 in the neutral region.
-Moving average indicators are biased towards an uptrend. Hull Moving Average indicating selling opportunity.
-Volume indicators saw a decrease in the volume in the last few candles from 22.8M to 6.3M

Price expected to see a downtrend as lower highs were observed in the last few candles. Most of the Oscillator indicators are neutral. MACD histogram is negative, size decreased until the last candle but increasing now in the negative region. RSI at 55, in the neutral region above the midline with a down move. CCI at 29, in the neutral region, got decreased from 212 to 28 in the last few candles. Another interesting point to notice here is that lower highs were observed in the last few candles.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles.

DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.

Note: Above analysis would hold true if we do not encounter sudden jump in trade volume .

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- Mudrex
Technical IndicatorsOscillatorsTrend AnalysisXLMXLMUSDxlmusdforecast

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