$XLM bearish movement ⛔?

The Stellar token (XLM) is currently experiencing substantial downward pressure, with market data signaling the potential for further losses.

Recent technical analysis highlights a breach of the upper Bollinger Band at $0.6374, with the 20-day moving average acting as a median point at $0.21. This situation is reminiscent of 2021 when XLM peaked at $0.797 before suffering a sharp 48.73% decline within a week.

Over the past three weeks, XLM has already dropped by over 40%, and at the time of writing, it is trading at $0.3541—down 0.4% in the last 24 hours, as reported by CoinMarketCap.

Analysts suggest that XLM could face a further 45% drop if bearish market conditions persist. While historical patterns provide some context, external market forces and overall cryptocurrency sentiment remain key factors in determining the token’s future performance.