The cryptocurrency market is known for its unpredictability, and Stellar ($XLM) is no exception. Recently, $XLM took a significant hit, plummeting by 20%. This drastic drop has left many investors wondering what's next for this popular cryptocurrency.
Bearish Correction on the Horizon?
According to a recent analysis, a bearish correction phase is awaited for $XLM. The prediction suggests that the cryptocurrency will experience a downturn toward the $0.500 or $0.4800 support zone. This forecast is based on a short position taken around $0.5700, anticipating a correction phase.
Targets Secured, But Will Bounce Back?
Despite the bearish outlook, some investors remain optimistic about $XLM's future. A recent post claimed that all targets for $XLM have been secured, sparking debate among community members. However, with $XLM's price currently sitting at $0.4583, down 9.51%, it remains to be seen whether the cryptocurrency will bounce back.
Expert Insights: $XLM Will Retract More Than 30% Soon
One expert warns that is due for a significant retraction, predicting a drop of more than 30% in the near future. While this forecast may seem dire, it's essential to remember that the cryptocurrency market is inherently volatile.
Conclusion
The recent drop in $XLM's price has left many investors wondering what's next for this popular cryptocurrency. While some predict a bearish correction phase, others remain optimistic about $XLM's future. As always, it's essential to stay informed and adapt to changing market conditions.
Disclaimer
This article includes third-party opinions and should not be considered as investment advice. Cryptocurrency trading carries inherent risks, and you should always do your own research and consult with a financial advisor before making any investment decisions
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