Technical Analysis

The $XLM /USDT pair is currently in a downtrend. The price has broken below the key support level of 0.2436, indicating a potential continuation of the bearish momentum. The formation of lower lows and lower highs suggests a bearish bias.

Trade Recommendations

* Short Trade: Enter a short position at the current price of 0.2436 with a stop-loss at 0.2608. The target for this trade is 0.1731.

* Long Trade: Wait for a reversal signal, such as a bullish candlestick pattern or a break above the 0.2608 resistance level, before considering a long position.

Market Outlook

Given the bearish momentum and the recent price action, the market is likely to continue its downward trend in the short term. However, traders should be cautious of potential short-term rebounds or corrections.

Leverage

Use leverage wisely. High leverage can amplify both profits and losses. It's crucial to manage risk effectively and avoid over-leveraging.

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