The previous downtrend has not yet fully reversed
The XLM price has reached a significant support level and is gradually attempting to recover. This support zone acts as a key point for price stabilization, but the previous downtrend has not yet fully reversed.
Support and Resistance Levels:
Support Levels:
$0.0987 USDT: This level serves as the primary support, with the price attempting to rebound near this level.
$0.0950 USDT: This lower support level may act as a backup if the $0.0987 level is broken.
Resistance Levels:
$0.1012 USDT: This is the first resistance level that the price must break through to confirm a trend reversal.
$0.1030 USDT: Breaking this next resistance level could signal the return of buyer strength and the potential start of a new upward trend.
The XLM/USDT chart shows that the price has reached a significant support area and is trying to rebound. Breaking through the $0.1012 and $0.1030 resistance levels could confirm a trend reversal and the beginning of an upward movement. However, if the price fails to break these levels, the downtrend may continue.
Support and Resistance Levels:
Support Levels:
$0.0987 USDT: This level serves as the primary support, with the price attempting to rebound near this level.
$0.0950 USDT: This lower support level may act as a backup if the $0.0987 level is broken.
Resistance Levels:
$0.1012 USDT: This is the first resistance level that the price must break through to confirm a trend reversal.
$0.1030 USDT: Breaking this next resistance level could signal the return of buyer strength and the potential start of a new upward trend.
The XLM/USDT chart shows that the price has reached a significant support area and is trying to rebound. Breaking through the $0.1012 and $0.1030 resistance levels could confirm a trend reversal and the beginning of an upward movement. However, if the price fails to break these levels, the downtrend may continue.
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