$XLM Will hitt 0.24$ tonight:
Predicting whether XLM will hit $0.24 tonight. Based on the chart:
Key Points to Consider:
1. Resistance at $0.2040:
Before XLM can reach $0.24, it needs to break the immediate resistance around $0.2040.
A breakout would require significant buying momentum, which is not currently evident (declining volume).
2. Indicators:
The RSI is neutral and leaning toward oversold, meaning upward momentum could resume but isn't guaranteed.
The Stochastic RSI being in oversold territory suggests a possible rebound, but confirmation is needed.
3. Volume and Momentum:
For XLM to reach $0.24, it needs a sharp increase in trading volume and a shift in momentum.
The current price correction could act as consolidation before an upward move, but without strong buying interest, this target might be difficult to achieve tonight.
Likelihood:
Bullish Case: If a breakout above $0.2040 occurs with strong volume, XLM may test $0.24, especially if Bitcoin or other major cryptocurrencies rally tonight.
Bearish/Neutral Case: If the price continues consolidating or drops further, it is unlikely to reach $0.24 within such a short timeframe.
Recommendation:
Monitor the resistance level ($0.2040) closely. If XLM breaks above it decisively with strong volume, there’s a possibility it could test $0.24. However, setting realistic expectations and using stop-losses is crucial in case the market reverses.