CandleFocus $63 Million of XLM Outflow, Bullish Signal or What
2024-12-05
Author: Content Editor
XLM, the native token of Stellar, has recently experienced a price correction after a significant rally. However, on-chain metrics suggest a bullish outlook for the altcoin. Data shows a significant outflow of XLM from exchanges to wallet addresses, indicating potential buying pressure and reducing the likelihood of a price decline. Expert technical analysis predicts a possible 15% drop before a significant upward movement. XLM is currently trading above the 200 EMA and its RSI suggests it still has room to increase. As of now, XLM is trading near $0.50, experiencing a 5.6% price drop in the past 24 hours with a decrease in trading volume.
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