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Stellar (XLM) Price Return to $0.70 Could Be Postponed for Now Beincrypto 29 қар 2024

Stellar (XLM) Price Return to $0.70 Could Be Postponed for Now 📉

Stellar XLM TradingView

Stellar (XLM) price significantly increased by over 400% in the past month, reaching a peak of $0.63, the highest since 2021. However, trend indicators suggest potential consolidation as the current upward trajectory faces challenges.

The Average Directional Index (ADX) has decreased from over 40 to 23.6, indicating a weakening trend. While XLM maintains a bullish outlook with stronger buying than selling pressures, the declining ADX implies a possible slowdown or consolidation phase.

The Chaikin Money Flow (CMF) for XLM stands at -0.16, showing a negative trend for three consecutive days. This indicates more selling pressure compared to buying, signaling potential limitations to the ongoing uptrend.

For Stellar to reach $0.70, the current uptrend would need to regain significant momentum, amidst possible volatility and selling pressures. Failure to do so may result in testing a key support level at $0.41, crucial for maintaining a medium-term bullish view.

Дереккөз: beincrypto.com ↗

Ұқсас мақалалар (17)

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