Stellar (XLM) recently experienced a significant downturn after a dramatic surge of 90% in the previous week. The cryptocurrency has dropped 13% in the past 24 hours and its trading volume has also decreased by 18%. This sudden price movement has surprised the Stellar community, as it had been outperforming Bitcoin since early November. The current price action raises questions about XLM's ability to sustain its rally, with immediate resistance levels and supports identified. A short-term risk indicator for XLM has also surged, indicating a heightened possibility of a market correction. Despite the setback, XLM has recovered partially from its all-time high. Market observers advise traders to approach XLM with caution and monitor support levels. The focus now is on whether XLM can regain its bullish momentum or face prolonged consolidation.



Other News from Today