CandleFocus

Stellar (XLM) Price Surges 34% in a Week, but Bullish Momentum May Fade Soon

Author: Content Editor
The price of Stellar (XLM) has surged by 34% over the past week, showing strong bullish momentum. However, signals from indicators like the CMF and DMI suggest that the uptrend may be losing steam. XLM is currently trading between resistance at $0.47 and support at $0.41. If it breaks resistance at $0.47, it could target $0.51 or even $0.60, but failure to hold support at $0.41 could result in a sharp correction. The ADX indicates a strong trend, but it has declined slightly. The CMF suggests that selling pressure is outweighing buying pressure, signaling a shift in market sentiment. If the CMF remains negative, XLM's price could face additional downward pressure. Overall, the golden cross formation that formed on January 1 has driven recent price gains, but the current signals indicate a weakening uptrend.

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