The price of the cryptocurrency Stellar (XLM) continues to fluctuate, showing a decline of 2.38% over the last 24 hours. This article analyzes the current indicators and potential scenarios for price movements.
Current Price of Stellar (XLM)
Currently, XLM is trading at $0.4259. Over the past 24 hours, the asset has demonstrated negative dynamics, decreasing by 2.38%.
Chart Analysis
On the hourly chart, the price of XLM has broken the local support at $0.4395. If the candle closes below this level without a long wick, the decline is likely to continue to the $0.40 zone. On the daily chart, XLM is in the middle of a wide channel between support at $0.3620 and resistance at $0.5166, indicating low volatility.
Forecast for Stellar (XLM)
From a mid-term perspective, the price remains within the previous candle, confirming the absence of buyer and seller strength. The most likely scenario is sideways trading in the $0.41-$0.46 range.
The current situation in the Stellar (XLM) market demands attention. Price declines and testing of support levels may create new opportunities for investors.
