Stellar (XLM) In Bullish and Bearish Territory after Losing This Support
Main Idea
Stellar (XLM) is at a critical price point after losing its 10-day SMA support, signaling a short-term bearish trend while its long-term structure remains bullish.
Key Points
1. Stellar (XLM) lost its 10-day SMA support, indicating a shift to a short-term bearish outlook, with current trading between $0.42 and $0.43.
2. Key downside targets are $0.38 and $0.34 if the $0.42 support level fails, with RSI near oversold levels and MACD turning bearish.
3. Despite short-term weakness, XLM remains above its 50-day and 200-day SMAs ($0.32 and $0.31), maintaining a long-term bullish structure.
4. Analyst Javon Marks suggests a potential long-term breakout to $8.00 if XLM recovers above $0.79, referencing its 2015–2018 cycle.
5. The article emphasizes that the current technical dilemma for XLM is 'bullish above the 10-day SMA, bearish below.'
Description
Stellar (XLM) has reached a critical turning point in its price trajectory, following the recent loss of its 10-day simple moving average (SMA) as a support level. Crypto analyst Ali Martinez drew attention to this development in a post on X, stating, “Stellar $XLM just lost the 10-day SMA as support: bullish above, bearish below!” His warning underscores a pivotal technical shift that now defines XLM’s short-term market outlook. Breaking Below the 10-Day SMA After rallying from below $0.30 to o...
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