Stellar's XLM is at a pivotal moment as it tests a significant resistance level, drawing the attention of traders and investors alike. According to the results published in the material, the cryptocurrency's performance in the coming days could set the tone for its short-term trajectory.
XLM Resistance Levels
Currently, XLM is facing resistance at 0.041, which coincides with the 0.382 Fibonacci retracement level and a bullish double-bottom pattern. This technical setup suggests that a breakout could lead to further gains. If XLM successfully breaks above this resistance, it may target the next level at 0.048.
Potential Pullback Scenario
Conversely, should XLM fail to hold above 0.041, it risks a pullback to the recent breakout point near 0.038. Market participants are keenly observing these levels, as they could indicate the next significant move for Stellar's cryptocurrency.
