In the past week, we saw the price of XEM
attempt to break the resistance level
of $0.194 twice before finally breaking on October 31st. This bearish
push also effects the Bollinger bands
in a way that signals to us to expect a reversal in the trend soon, this is because the candles are closing outside of the second standard deviation of the band. Using this signal, along with the price inching toward the cross-section between the 3/1 Gann
indicator and resistance line, we can, again, expect a reversal in the trend to the bullish
side and begins to use the levels of $0.221, $0.225 and the 38.20% retracement as it's new resistance.
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