Stellar (XLM) price hovers around the $0.40 support, struggling to regain bullish momentum. Technical indicators confirm a persistent bearish trend. Monitoring upcoming support levels is crucial for market direction.
The price of Stellar (XLM) continues to experience significant volatility and a continuous decline, as investor sentiment weakens. Despite several attempts to rebound, the altcoin struggles to regain its former highs.
The market context remains gloomy, with investors largely reluctant to return to the market, thus fueling the continuous decline in prices. Technical indicators confirm this bearish dynamic. The Chaikin Money Flow (CMF) has remained in negative territory since the beginning of the month, signaling significant outflows from XLM. This demonstrates a lack of confidence from investors in the short-term prospects of the altcoin.
Additionally, XLM’s Relative Strength Index (RSI) has also dropped below the neutral line, reinforcing the bearish sentiment. This shows increasing weakness in momentum and unfavorable market conditions for XLM.
Currently hovering around $0.40, XLM’s price is attempting to maintain this support level. However, given the technical indicators and current market conditions, a short-term recovery seems unlikely.
The next key support level is at $0.35. If the bearish trend continues, the price could drop to this threshold, triggering further selling among investors.
Nevertheless, if Stellar manages to bounce back from the $0.40 support, a recovery towards $0.42 or even $0.45 could occur, provided investor sentiment improves and they return to the market. In summary, Stellar’s price evolution remains worth watching closely in the coming weeks, as fund outflows persist and the general market sentiment remains negative.
Stellar (XLM)’s price evolution remains worth watching closely in the coming weeks, as Stellar could well enter a bullish phase.
Here’s a guide to obtain it before its explosion on Bitget:
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