XLM is poised for a breakout! Key moment at $0.3056, revealing short-term strategy for night trading

After XLM surged to a price of $0.3056, it retraced to $0.2913, and has been consolidating around $0.30 recently. As market sentiment gradually warms up, XLM may have a chance to break out. During the night trading session, short-term volatility is significant, and investors need to closely monitor price support and resistance levels, especially the current $0.30 mark. If it breaks through key technical levels, a rapid increase may follow.

Technical analysis and key levels:

Support level: $0.3000. XLM has received support at this price level multiple times, forming a strong bottom support. If the price retraces to this level, it may be worth looking for long opportunities. Resistance level: $0.3120. The recent high is at this level, and if it breaks through, it is expected to continue towards $0.3200, creating space for a short-term increase.

From a technical chart perspective, XLM's current price is consolidating in the $0.3050-$0.3120 range, and breaking through the upward resistance may lead to a larger increase.

Short-term contract strategies:

Long strategy:

Entry point: $0.3060, if the price breaks through the $0.3100 resistance and stabilizes. Stop loss point: $0.3000, if the price retraces and drops below the support level, a stop loss is required. Take profit point: $0.3150, the target price is close to the upper resistance level, and if it breaks through, take profit can be further adjusted. Leverage recommendation: 4x leverage. XLM has moderate volatility, and 4x leverage allows for capturing volatility opportunities while managing risk well.

Short strategy:

Entry point: $0.3030, if the price fails to break the upward pressure at $0.3100 and retraces. Stop loss point: $0.3120, to prevent the price from breaking through and maintaining an upward trend. Take profit point: $0.2950, if the price fails to break through resistance and retraces to the support area. Leverage recommendation: 3x leverage. When shorting, special attention should be paid to the market's rebound risk, and moderate use of leverage can reduce risks associated with short-term volatility.

In the short term, XLM's price may consolidate within the $0.3000 and $0.3120 range. If it breaks through the resistance at $0.3120, the price is expected to rise further to $0.3200. However, if it fails to break upward pressure within the current range, the price may retrace to around $0.3000 and look for support to rebound. $XLM