Reason: Although there has been a net inflow of funds over the past 24 hours, the overall technical outlook remains weak. The 1-hour chart shows that after rebounding from $0.23 recently, the price is approaching the key resistance zone of $0.25-$0.26. On the daily chart, the MACD is still negative, and the overall trend has been in a downward structure since mid-year. Comprehensive technical analysis signals a “strong sell.” If $0.26 cannot be effectively broken, further downward pressure is likely.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
$XLM Current price $0.2572
Direction: Observe or short cautiously
Reason: Although there has been a net inflow of funds over the past 24 hours, the overall technical outlook remains weak. The 1-hour chart shows that after rebounding from $0.23 recently, the price is approaching the key resistance zone of $0.25-$0.26. On the daily chart, the MACD is still negative, and the overall trend has been in a downward structure since mid-year. Comprehensive technical analysis signals a “strong sell.” If $0.26 cannot be effectively broken, further downward pressure is likely.
Take profit at $0.2400, stop loss at $0.2650.