Stellar (XLMUSD) is controlled by a bearish corrective wave - Analysis - 12-31-2024

The price of Stellar (XLMUSD) stabilized at a decline during its recent trading at the moment levels, amid the dominance of the bearish corrective trend in the short term and its trading along a very steep trend line, with the continuation of negative pressure due to its trading below its simple moving average for the previous 50-day period, in addition to that, we notice the occurrence of negative signals in the relative strength indicators, despite reaching areas of extreme saturation with selling operations.

Therefore, we expect the currency price to decline during its upcoming trading, targeting the important and close support level 0.311903 in preparation for breaking it.

The expected direction for the upcoming trading: Bearish $XLM