The price of Stellar (XLM) has broken down from a descending triangle pattern that it has been trading within since July 13. This bearish pattern was confirmed on October 9 when the price broke below the $0.110 support area. Since then, the price has reached a new 90-day low of $0.101. The daily RSI indicator is also bearish, indicating a downward trend for the XLM price. If the price continues to decline, it could potentially reach the $0.076 support area, which would be a 30% decrease from the current price. However, if the price manages to break above the triangle’s resistance trendline, the previous breakdown may be invalidated, and the trend could turn bullish, potentially leading to a 30% increase to $0.140.
#Stellar #XLM #crypto #cryptocurrency #bearish #priceanalysis #technicalanalysis #marketupdate
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