$XLM /USDT – Relief Bounce or Just a Trap? Bearish Setup Brewing! 🚨
Current Price: $0.2910 (-2.55%)
After dropping from the $0.30 zone, $XLM is showing signs of a weak bounce. With bearish pressure still looming, this could be an opportunity for a short trade if resistance holds.
Key Resistance Levels:
$0.2945
$0.2980
Key Support Levels:
$0.2845 (next major support)
$0.2760
Short Trade Setup:
Entry Zone: $0.2915 – $0.2935
TP1: $0.2855
TP2: $0.2780
Stop Loss: $0.2960
Market Insight:
The upside momentum is fading with lower highs forming. Rejection from resistance near $0.294 could fuel more selling.
Pro Tip:
Look for a bearish engulfing or strong rejection wick near $0.293 before entering. Volume confirmation is key for validation.
Play smart – let the chart speak before you act!
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