Stellar (XLM) Token Shows Bearish Pattern After Strong Sell-off
- The Stellar price analysis shows a bearish trend over the past 24 hours.
- XLM/USD has lost 3.26% of its value and currently trades at $0.0914.
- If the bearish market persists, we might see the XLM falling toward the support level of $0.08871.
The Stellar price (XLM) analysis shows that the bearish momentum has taken control of the market. The Selling pressure is increasing on the XLM market, and prices are falling toward lower levels. The Stellar token is trading near the channel bottom at $0.0914 and lost 3.26% in the past 24 hours.
The past few days have been supportive for the bulls after the price of XLM climbed to highs near $0.095 and tested the resistance at $0.09536 as the buyers pushed the price higher. However, today the bears have taken over, and the price of XLM has dropped back below the $0.095 level.
If this bearish pressure continues, then we might see a deeper correction bringing the XLM/USD closer to the $0.08871 support level. On the upside, if the bulls can manage to push prices higher and break out of the current resistance at $0.09536, then we might see a further increase in price with a possi…
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