Is XLM Price Set to Plunge to $0.11 or Soar to $0.16?
Current Position: XLM price stands at $0.129, with an intraday drop of 3.22%.
Dominant Pattern: Double-bottom reversal visible on the daily chart.
Key Support Confluence: 61.80% Fibonacci level at $0.10, coinciding with the 200-day exponential moving average.
Recent Performance: A notable 14% rally in the last 10 days, with XLM surpassing the $0.12 mark and nudging towards $0.13.
Warning Signal: The intraday drop hints at a possible Evening Star pattern formation, signaling potential bearishness.
RSI Overview: Positive momentum as the RSI remains above the halfway mark.
MACD Indication: The MACD and signal line approach a bullish crossover above the zero level.
Bullish Outlook: If momentum holds, XLM could target the $0.16 resistance, marking a potential 24% ascent.
Immediate Challenge: A supply zone at $0.124 stands as an immediate hurdle.
Bearish Scenario: A dip below the 38.20% Fibonacci level at $0.129 could push XLM towards the 200-day EMA support at $0.11, translating to a 15% decline.
Dominant Pattern: Double-bottom reversal visible on the daily chart.
Key Support Confluence: 61.80% Fibonacci level at $0.10, coinciding with the 200-day exponential moving average.
Recent Performance: A notable 14% rally in the last 10 days, with XLM surpassing the $0.12 mark and nudging towards $0.13.
Warning Signal: The intraday drop hints at a possible Evening Star pattern formation, signaling potential bearishness.
RSI Overview: Positive momentum as the RSI remains above the halfway mark.
MACD Indication: The MACD and signal line approach a bullish crossover above the zero level.
Bullish Outlook: If momentum holds, XLM could target the $0.16 resistance, marking a potential 24% ascent.
Immediate Challenge: A supply zone at $0.124 stands as an immediate hurdle.
Bearish Scenario: A dip below the 38.20% Fibonacci level at $0.129 could push XLM towards the 200-day EMA support at $0.11, translating to a 15% decline.