The cryptocurrency market shows a rise in Stellar (XLM) prices, which increased by 3.56% in the last 24 hours. However, there are indications of a possible downturn.
Overview of Stellar (XLM)
Stellar (XLM) finished the last 24 hours with a 3.56% increase, highlighting the sustained strength of bulls in the market. However, after reaching local resistance at $0.2540, the market may face a correction.
Current Market Fluctuations
Currently, the price of XLM is at $0.2490. If the daily candle closes below the local support level of $0.2485, further correction down to $0.2460 is possible. On a wider time frame, a false breakout of the resistance level at $0.2532 has been noted which could lead to bears returning to the market.
Future Predictions
From a midterm perspective, it is too early to make long-term predictions as the week has just started. If the price closes above the previous candle high ($0.2519), growth may continue in the $0.26-$0.28 range.
Nonetheless, the current situation on the Stellar (XLM) market remains uncertain, and keeping a close eye on future fluctuations may be beneficial for investors and traders.
