The price of Stellar (XLM) is experiencing conflicting technical signals, continuing to remain in a downward trend, having fallen by 29% over the last month. The recent formation of a 'death cross' on December 20 indicates increasing bearish pressure; however, a surge in buying activity hints at a possible trend reversal. The Directional Movement Index (DMI) shows increasing trend strength, and the Average Directional Index (ADX) has risen to 26.8. The Chaikin Money Flow (CMF) has sharply increased to 0.19, signaling strong institutional accumulation. While the current bearish trend is supported by D- being above D+, the positive CMF suggests a potential shift in sentiment. Immediate support is at $0.31, with resistance at $0.40. A breakout above $0.40 could lead to further growth toward $0.47, but sustained buying pressure is necessary.
This analysis serves as information and is not financial advice, urging readers to conduct their own research before making investment decisions.
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