CandleFocus

Stellar (XLM) Price Bullish Momentum Fades After 94% Weekly Gains

Stellar's price has experienced a 10% decrease in the last 24 hours but has gained 94.07% in the past week. However, indicators such as the RSI and Ichimoku Cloud suggest weakening bullish momentum and growing selling pressure. If the downtrend continues, Stellar could test support at $0.099, while a recovery could push it back up to $0.638 or potentially as high as $0.70. The RSI has dropped to a neutral zone of 48.31, indicating reduced bullish momentum and the potential for further drops before a new surge. The Ichimoku Cloud chart shows bearish momentum taking over, with the potential for a bearish trend reversal if the price falls further into or below the cloud. While the EMA lines remain bullish, the narrowing gap suggests weakening momentum and a potential shift in sentiment. If buying pressure doesn't return soon, the downtrend could accelerate, with a potential 76% correction to strong support at $0.099. Conversely, if the recent bullish momentum returns, Stellar could retest resistance at $0.638 and potentially reach $0.70 for a 62% upside.

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