Once upon a time, this coin on top 10 crypto on 2017 until some major incident happen. major hack and their mass re-structured their organization in early of 2019 brought down XEMBTC 99.45% from it's peak price and it's on rank 31 crypto on this date from messari.com .
Alex Tinsman, the new President after the new structure of organization said "Catapult" the long await big improvements to speed and scalability for the XEM it self would be announce somewhere between late Q3 - Q4 (September - December 2019).
If some coin could benefit from upcoming news like this that would be XEMBTC for potential massive bounce until late 2019. That excluded things like how BTC dominance behavior and etc.
Let's look at the chart.
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- Medium Term ; Support : 500 sat & 430 sat || Resistance : 680 sat & 830 sat.
- Looking at Moving Averages still on massive bearish trend on daily although the price action manage to get above 21 EMA which is a good thing for a while. I expect a retracement a bit after the stochastic is being top out and already crossover ready to head down.
- Slight bullish divergence between CMF, OBV, MACD and RSI.
- Weekly chart seems non existence significant volume in present and low volatility by looking at DMI. Small increase new volume by OBV and CMF is in neutral zone.
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- Either an accumulation is in progress or not, i think it's offer an high reward and low risk trade if there's an opportunity to get into a support to buy for upcoming alt-season / when BTC dominance do fall/retrace atleast until Q4 this year.
Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.