$XLM /USDT: Sharp Decline as Sellers Dominate – Testing Key Support
XLM/USDT is trading at $0.4551, reflecting a significant 15.50% drop over the last 24 hours. Stellar is under intense selling pressure, with the price nearing critical support levels amid high trading activity.
Key Data Points:
24h High: $0.5477
24h Low: $0.4400
24h Volume (XLM): 1.13B
24h Volume (USDT): $564.04M
Trade Strategy:
Long Position: Enter above $0.4700, targeting $0.5000 and $0.5300. Set a stop loss at $0.4400.
Short Position: Enter below $0.4400, aiming for $0.4200 and $0.4000. Set a stop loss at $0.4600.
Market Outlook:
XLM/USDT faces strong resistance near $0.4700. A breakout above this level could signal recovery toward $0.5300. However, failure to hold above $0.4400 may result in further downside, targeting support at $0.4000. Traders should monitor volume and sentiment for clearer direction.