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Crypto Technicals: XLM/USD downside limited, holds support at 5-DMA
XLM/USD chart - Trading View
Exchange - Bitfinex
Support: 0.0763 (5-DMA); Resistance: 0.0880 (200-DMA)
Technical Analysis: Bias Bullish
XLM/USD was trading 2.95% lower at 0.0775 at 09:45 GMT after closing 1.05% higher in the previous session.
Price action is above daily cloud and major moving averages, scope for further upside.
The pair has paused upside after 3 straight sessions of gains, downside is likely to be limited.
5-DMA is immediate support at 0.0762. Break below could see dip till 110-EMA at 0.0728.
Technical studies support upside. Stochs and RSI are biased higher. MACD and ADX also support upside.
The pair is on track to test 200-DMA at 0.0880, break above will propel the pair to new highs.