XLM is ready to go after consolidation, and may usher in a big breakthrough in the short term!

The current price of XLM is $0.4839, with a high of $0.5018 and a low of $0.4733 today. Judging from the price trend, XLM has recently experienced strong consolidation, and the market is in a relatively narrow range. Despite this, strong support and resistance in the short term have gradually become obvious. It is expected that in the next few hours, XLM may usher in an important breakthrough, and a new round of rising or falling prices may be opened after the breakthrough.

Technical analysis:

Support and resistance:

Support level: $0.4733. The current price remains above this support level. If the price falls below this support, it may test stronger support near $0.4650. Resistance level: $0.5018. After breaking through this resistance level, XLM may further rise to the $0.52 area and challenge the key technical level of $0.55.

Bollinger Band Analysis:

The narrowing of the Bollinger Bands indicates that the market is entering a consolidation phase and volatility tends to decrease. If the price breaks through the upper Bollinger Band at $0.5018, it may trigger a strong upward momentum. On the contrary, if the price falls below the lower Bollinger Band at $0.4733, a pullback may occur.

RSI indicator:

RSI is currently close to 60 and has not yet entered the overbought area, indicating that the market is in a neutral range with no obvious buy or sell signals. However, if RSI breaks through 70, it may generate an overbought signal, further pushing prices up.

Long strategy:

Entry position: If XLM breaks through $0.5018 and stabilizes at this price, you can consider going long. Take profit position: The target is the $0.52 to $0.55 range. If the price breaks through $0.55, it will further look to $0.60. Stop loss position: If XLM fails to break through $0.5018 and the price falls back below $0.4750, consider stop loss.

Short strategy:

Entry position: If XLM fails to break through $0.5018 and starts to pull back, you can consider going short. Take profit position: The target is between $0.4733 and $0.4650. If it falls further, the take profit can be set around $0.45. Stop loss position: If XLM breaks through $0.5018 and continues to rise, stop loss and exit. $XLM