The recent post by the Scopuly team has caught the attention of the crypto community as the price of Stellar (XLM) dipped below its 10-day moving average, possibly indicating future changes ahead.
Current Price Concerns
According to Scopuly, XLM price has been declining over recent days, down 6% for the day and 8% for the week, raising concerns among traders.
Expert Opinions Analyzed
Crypto researcher Javon Marks shared that the current setup recalls the Stellar cycle from 2015 to 2018, which led to a breakout. Marks forecasts a potential 80% rally to $0.79. Conversely, charts analyst Peter Brandt cautions that XLM must hold above $0.22 and break above $1 for any bullish confirmation, or the asset remains under pressure.
Future Direction for Stellar?
Scopuly urges the community to monitor the $0.42-$0.45 range closely, as this may be a decision point. If XLM can recover strength and push past $0.45 with strong buying volume, a bounce to $0.50 might follow. However, the BBP indicator has turned red, indicating sellers are currently in control.
Maintaining caution while closely monitoring key levels, analysts and traders remain divided in their assessment of future Stellar (XLM) movements.
