XLM Chart Analysis 6/8/68XLM has gained support from its utility in facilitating cross-border payments, aligning with the rising trend of Stablecoin usage. This fundamental backing, combined with a developing bullish divergence on the RSI, suggests potential for a price rebound.
Trading Strategy:
A buy entry can be considered near the support level at 12.50 THB, which coincides with the 50-day EMA.
If the price holds this level and successfully breaks out of the descending channel, the next resistance target is at 15.22 THB.
A stop-loss should be placed if the price falls below the recent low at 11.83 THB.
XLM’s role in cross-border transactions positions it to benefit from increased adoption of Stablecoins, providing strong long-term potential alongside the current technical setup.
