Stellar's XLM token trades around $0.073, flat over the past 24 hours. The monthly chart has formed an evening Doji star pattern: a long green candle, followed by a doji with an extended upper shadow
Stellar's XLM token trades around $0.073, flat over the past 24 hours. The monthly chart has formed an evening Doji star pattern: a long green candle, followed by a doji with an extended upper shadow but insignificant body, then a red candle pushing lower. This candlestick setup signals sellers are gaining ground.
Support rests at $0.070. Traders watch that level carefully. Breach it and the next floor sits at $0.068, with $0.046 below that.
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XLM peaked at $0.119 on August 17th. It has fallen since then, dipping to $0.066 at the lows. A bounce between September 23rd and 24th gave bulls some room, but selling pressure returned quickly. Both the 50-day moving average and 200-day exponential moving average have rejected price attempts, forming hard resistance on the monthly timeframe.
The weekly chart shows XLM breaking beneath the lower trendline of an ascending channel that began at $0.059 in June and climbed to $0.119 in August. The 50-day EMA sits at $0.078 now, acting as overhead resistance. Bulls need to reclaim the $0.08 area and break above these shorter-term moving averages for any meaningful upside. Without that, further declines look probable.
On the daily chart, the 23.6% Fibonacci retracement level caps price near $0.08. The 100-day EMA comes in at $0.083 and the 50-day MA at $0.087. The 50% and 38.2% Fibonacci levels cluster around $0.09.
The RSI continues to slope downward. Sellers hold the advantage. If selling pressure sustains, bears target $0.068 to $0.06.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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