- XLM is trading near $0.2806, struggling below the 9-EMA and TEMA, reflecting weak short-term momentum.
- Bollinger Bands are tightening, suggesting a potential breakout or breakdown as volatility decreases.
- RSI sits at 35.07, indicating weakening momentum and a possible move into oversold territory.
- Stellar break above $0.2845 could signal recovery, while a drop below $0.2749 may lead to deeper losses.
Stellar (XLM) is currently trading near $0.2806, showing limited movement on the 4-hour chart. The price is struggling below key short-term indicators, the 9-period Exponential Moving Average (EMA) at $0.2845 and the Triple Exponential Moving Average (TEMA) at $0.2797, highlighting ongoing weakness in momentum.
Bollinger Bands are beginning to tighten, with the upper band positioned at $0.3079 and the lower band at $0.2749. This contraction indicates decreasing volatility and often signals a potential breakout or breakdown. For now, the price remains confined within this narrowing range, suggesting indecision among traders.
The Relative Strength Index (RSI) sits at 35.07, hovering just above the oversold threshold. This reading suggests weakening momentum and hints at possible further downside unless buyers return. The MACD histogram remains slightly negative, with both the MACD and signal lines trending downward and staying below the zero line, confirming continued bearish pressure.
A drop below the $0.2749 support level could open the door to deeper losses, while a break above the $0.2845 resistance, aligned with the 9-EMA, would be an early sign of a potential recovery.
Stellar (XLM) Breakout Hints at Uptrend Toward $0.46
Despite the short-term bearish outlook, crypto analyst in the market remain optimistic. XLM recently broke out from a bullish pattern, signaling the start of a potential upward trend. The first upside target is around $0.46, with expectations that momentum could push even higher if this level is reached.
In summary, Stellar faces short-term pressure but holds promise for a bullish reversal if key resistance levels are reclaimed and momentum begins to shift.
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