Stellar's XLM token is showing signs of resilience as it holds steady above the $0.28 mark, a crucial support level that could signal the start of a new bullish trend. According to the official information, market analysts are optimistic, suggesting that the recent corrective phase may have come to an end.
Support Level Reinforcement
The support level has been reinforced around the 0.618 Fibonacci retracement zone, which is approximately $0.185. If XLM can maintain its position above $0.28, analysts predict a potential bullish continuation, with targets set at:
- $0.355
- $0.414
- even a long-term goal of $1.13
Market Correction and Investor Behavior
Additionally, the recent market correction has prompted significant withdrawals from exchanges, a trend that reflects increasing investor confidence in a sustained recovery. This shift in behavior suggests that many are opting to hold their assets rather than trade them, further supporting the bullish outlook for Stellar XLM.
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