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homerun token
HomeAltcoin News

XLM: Stellar swing high but unable to break bullish

Bishop eL byBishop eL
1 year ago
inAltcoin News
Reading Time: 1 min read
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XLM price eyes reversal

XLM price has a new 32% rise in recent days, which sliced through a supply barrier at $0.472. However, this ascent fell short of buying pressure a few ticks before another level at $0.551.
XLM: Stellar swing high but unable to break bullish
Stellar swing high but unable to break bullish.

Since Stellar did not break this stage, the structure of the sector with a striking downwards trend seems to be intact.

A first line of protection to break the price of XLM is the demand zone that ranges from $0.476 to $0.509. Because of the recent failure to overcome $0.566, the tracing is most likely to have a special oomph, which enables it to divise the Simple Moving Averages (SMA) by 100 and 556 hours at $0.527 and $0.485, respectively, and to induce a $0.472 back test of the help barrier.

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