XLM Trading Insights: Key Levels Stabilize, 25% Gains Are Just Around the Corner!
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On December 23, the expert shared a post on X (formerly Twitter), highlighting that a technical indicator called TD Sequential is sending a buy signal for XLM.
In addition, the expert further pointed out that the price of the altcoin is likely to rise only if it maintains the $0.33 level, otherwise it may fail.
According to AMBCrypto's technical analysis, XLM seems to have been consolidating in a narrow range between $0.34 and $0.39 over the past four trading days, close to the key support level of $0.347.
The continued consolidation will determine the future direction of the XLM price. Based on recent price action and historical momentum, if the altcoin holds this support level, a 25% surge to the $0.45 level is very likely.
Conversely, if this level fails to hold and a daily close below $0.33 is seen, a 33% drop in price to $0.22 levels could be in the cards in the future.
The XLM daily chart shows that the price is overstretched and significantly away from the 200 exponential moving average (EMA), although this suggests that the asset is still in an uptrend.
Currently, the long-to-short ratio for the XLMUSDT pair on Binance is 1.87, with a ratio above 1 indicating bullishness. The data further shows that 65.4% of Binance’s top traders currently hold long positions, while 34.6% hold short positions.
Combining all of these on-chain indicators with technical analysis, it appears that bulls are currently dominating the asset and could maintain control to maintain the $0.35 level in the future.
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