XLM Stellar price has seen a 20% price decline in the past 3 days, making investors ponder on what is next for XLM coin. XLM price is currently trading at $0.50 and is 6% down over the last 24 hours.
Crypto analyst on X with handle Rose Premium Signals analyzed the XLM Price chart, pointing out key support and resistance levels, potential bullish and bearish scenarios, and essential technical insights.
XLM Support And Resistance Levels
The analyst pointed out a key support level at $0.4202. He noted that a bounce from here could show renewed buying interest and potentially initiate bullish momentum. He also noted another key support at $0.40: he mentioned that failure to maintain this level could invalidate the bullish case and lead to further downside risks.
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He also noted some resistance levels or profit targets, at $0.6864, which is the first resistance level and initial profit target for bullish traders, and $0.8208, the secondary target that may be achievable if bullish momentum continues. The third and major target is at $0.9815, aligning with strong upward momentum if the price action supports it.
XLM Profit Target and Invalidation Point
A bounce from the $0.4202 support zone would suggest that buyers are stepping in, providing an opportunity for a bullish reversal. Should XLM manage to break above the current resistance, we could see a rally targeting $0.6864, with potential for further gains if momentum persists.
While he Consider entering near the $0.4202 support zone, as the risk-reward ratio appears favorable.
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To minimize downside risks, a stop-loss should be placed slightly below the $0.4000 mark. This helps protect against significant losses in case the bullish structure fails.
