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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WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.