XEM, pretty interesting token, but almost died. Let's begin.
The price is forming the new bottom. Above we have a consolidation cloud. It's a resistance zone now.
Let's take a look on the first possible scenario. The price will make a new bottom and will go to the resistance zone, and then, the downward movement will continue.
And the second scenario is based on the fact, that we will break through the resistance zone, and then go up to the grey trend line. If the movement will strong, we can expect the price at (1763) as well, but, I think, the grey line will stop the movement and the price will correct.
The price is forming the new bottom. Above we have a consolidation cloud. It's a resistance zone now.
Let's take a look on the first possible scenario. The price will make a new bottom and will go to the resistance zone, and then, the downward movement will continue.
And the second scenario is based on the fact, that we will break through the resistance zone, and then go up to the grey trend line. If the movement will strong, we can expect the price at (1763) as well, but, I think, the grey line will stop the movement and the price will correct.