At the end of the week, all leading cryptocurrencies are experiencing price declines. The most notable drop is in Stellar (XLM), which has lost 6.38% over the last 24 hours.
Overview of Stellar (XLM)
The current price of Stellar (XLM) is $0.2247. There has been a significant decrease over the past day, raising concerns among traders.
Current Support Levels
On the hourly charts, the price of XLM is near local support at $0.2251. If trading does not rebound by the end of the day, traders may expect a level breakout and a move to the $0.22 zone.
Price Decline Prospects
In broader timeframes, bears continue to control the market situation. If the daily candle closes near its low, the decline may continue to the $0.20-$0.21 range shortly. The price of XLM has tested the support at $0.2231 again, and if a breakout occurs, traders may expect further decline to the $0.20 range by the end of the month.
The decline in prices for Stellar (XLM) highlights the volatility of the current cryptocurrency market. Traders should closely monitor support levels and recovery attempts.
