$XLM /USDT Technical Analysis: Eyeing the Next Key Move🔥💯
Current Price Action: XLM is trading at $0.3677, marking a slight pullback after a strong bullish rally earlier today. The chart reflects growing momentum, supported by consecutive green candles on the 30-minute timeframe.
Short-Term Levels to Watch:
• Long Entry: $0.3705 (Above recent resistance with confirmation of breakout).
• Short Entry: $0.3640 (Below current consolidation, aiming for a retest of lower support).
Key Support and Resistance:
• Support: $0.3550 (Previous swing low and psychological level).
• Resistance: $0.3750 (Strong supply zone as seen in recent highs).
Market Outlook: The upward price surge suggests bulls are attempting to regain control, but profit-taking near resistance is causing temporary consolidation. If XLM breaks above $0.3750, it could target $0.3850 in the short term. Conversely, failing to hold $0.3640 could invite bears to push prices toward $0.3500.
Strategy Insight: Traders should monitor these breakout levels. Secure partial profits on long trades at resistance and trail stop-losses. For short positions, wait for confirmed breakdowns to minimize risks.
Focus on momentum confirmation, as XLM shows potential for both breakout rallies and consolidation pullbacks in the near term.