Saad Ullah
Stellar (XLM) is experiencing significant downward pressure as bears maintain control of the market. With key technical levels being tested and trading sentiment remaining cautious, investors are closely monitoring critical support and resistance zones that could determine XLM's next major move.
XLM Price Under Bearish Momentum
Stellar is clearly showing weakness as selling pressure dominates the market. The recent MACD bearish cross has signaled trouble ahead for bulls, while trading volumes remain disappointingly low and open interest continues to decline. This lack of market participation suggests buyers are sitting on the sidelines, waiting for clearer signals before committing.
Analyst @Khendocee noted that XLM appears trapped in a precarious range, with buyers showing reluctance to step in while sellers maintain steady pressure.
Without strong bullish confirmation, the current trend looks set to continue favoring the bears.
Resistance at $0.36 and Fragile Support at $0.3447
The $0.36 level has emerged as the key resistance that bulls need to break through to regain any meaningful momentum. Below current levels, $0.3447 represents the final fragile defense for buyers. Should this support crumble under selling pressure, attention will quickly shift to the $0.31 zone, where high-risk traders might find compelling entry opportunities.
XLM Price Outlook: Watching the $0.31 Zone Closely
The $0.31 level stands out as the most critical area to watch in the coming weeks. If XLM drops to this zone and produces a strong bullish candle with increasing volume, it could offer an attractive entry point for patient traders. However, analysts caution against jumping in blindly without proper confirmation signals.
Currently, bears hold the upper hand, and XLM needs to reclaim the $0.36 resistance to demonstrate real strength and potentially shift market sentiment. Until that happens, traders should remain cautious and keep a close eye on how price action develops around the crucial $0.31 support zone.
Saad Ullah
