$XLM
Bulls Wiped Out!
A significant long liquidation of $5.9207K occurred at $0.42749, as XLM's price took a sharp downturn, leaving bullish traders exposed.
What’s Going On?
XLM faced a sharp reversal, forcing long positions to liquidate as the price dropped. This suggests that the upward momentum has slowed, and bears may be regaining control, creating potential for further declines.
Key Levels to Watch:
Resistance: $0.4300 – A breakout above this level could signal a recovery.
Support: $0.4150 – A strong defense of this level is critical to avoid further losses.
Volume Surge: The liquidation event suggests increased market volatility and a shift in sentiment.
Potential Downside: If the support at $0.4150 breaks, the next target could be $0.40.
Risk Alert: A sustained drop below $0.4150 could lead to a deeper correction toward $0.38.
XLM in turbulent waters – stay vigilant!