Digital Currency/Stablecoin/Tokenization Series: Trending Mobile-Phone Makers Interests In Blockchain Phones
Stable-Coin Series: After French Hurdle, German’s Finance Ministry Becomes Tormentor For Facebook’s ‘Libra’
Crypto Technicals: Monero fails to hold 200-DMA break, slips lower to erase most of previous session's gains
FxWirePro: EUR/GBP Shooting star pulls back major trend in range, maintain directional hedges as bears on verge of dragging 4-months lows
Regulatory Series on Cryptocurrencies: ‘Coinbase VP’ is now ‘CFTC’s Director of Market Oversight Division’
Crypto Technicals: Litecoin (LTC) flashing signs of weakness, bearish engulfing and overbought oscillators weigh
Cryptocurrency Derivatives Series: Just 3-Days Away From Bakkt’s BTC Futures Launch, Spot on Some Key Intricacies
Crypto Technicals: Hidden 'Bearish Divergence' to support more weakness in XLM/USD
XLM/USD chart - Trading View
Exchange - Kraken
Support: 0.0665 (Feb 6 low); Resistance: 0.0808 (21-EMA)
Technical Analysis: Bias Bearish
Stellar Lumens set to extend weakness. Hidden 'Bearish Divergence' to support more downside.
XLM/USD trades extremely range-bound on the day with session highs at 0.0753 and lows at 0.0744.
Major trend in the pair is bearish as indicated by GMMA indicator.
Further, formation of 'Death Cross' (bearish 50-DMA crossover on 100-DMA) adds to the downside bias.
Recovery attempts lack traction. Price has failed to extend break above 200H SMA.
Scope for test of next major support at 0.0665 (Feb 6 low). Break above 21-EMA (0.0808) will see minor upside.