Currently, XLM is facing two resistance levels near $0.53 and $0.56, while the EMA lines remain bullish with the short-term moving averages above the long-term moving averages.
However, Stellar's price has recently dropped below the shortest-term EMA line, indicating a potential loss of short-term momentum. This signals that the current uptrend is showing signs of weakening, and if it does not recover quickly, the price may continue to decline.
If the uptrend is re-established and the XLM price surpasses these resistance levels, the price could retest the $0.638 level, with the potential to rise to $0.65 or even $0.7, returning to price levels seen in 2021.
Conversely, if the downtrend occurs as forecasted from the Ichimoku Cloud and the EMA lines, the XLM price could test the support level near $0.41, marking a significant correction from the current level.