đ Stellar (XLM) Price Action: Breakout or Pullback? đ
Current Trend: đ
XLM is holding its ground near $0.0969, showing a promising uptrend. The bullish sentiment around Stellar is fueled by its expanding USDC cash services through MoneyGram and its growing role in cross-border payments. This has led to renewed market interest and accumulation, driving XLMâs recent gains.
1H Chart Analysis: đ
âą Support: $0.0960
âą Resistance: $0.0974
âą MACD: Flat with slight bullish divergence
âą RSI: 53.27 (Room for more upside)
XLM is consolidating below the upper Bollinger Band at $0.0974, hinting at a possible breakout. Watch for confirmation of bullish momentum!
4H Chart Analysis: â±ïž
âą Support: $0.0939 (Lower BB)
âą Resistance: $0.0980 (Upper BB)
âą MACD: Slightly Bearish
âą ADX: 29.09 (Moderate Trend Strength)
Testing resistance at $0.0980, XLMâs RSI is high at 63.69, approaching overbought levels. A potential pullback might occur before further gains, as the Stochastic oscillator is in overbought territory.
Bullish Scenario: đ
A breakout above $0.0980 could propel XLM towards the $0.10 psychological barrier, with further targets at $0.1050 and beyond. Look for rising volume and a bullish MACD crossover as confirmation.
Bearish Scenario: â ïž
Failing to surpass $0.0980 might lead to a consolidation phase or a dip towards $0.0960 or $0.0939. Overbought conditions suggest caution if momentum weakens.
Action Point: đ
Monitor for a breakout above $0.0980 for bullish confirmation. Set tight stop-losses near $0.0960 to manage risk. XLM remains a bullish candidate, especially if the positive market sentiment persists.
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