$XLM /USDT – Bounce or Bull Trap?
Current Price: $0.2910 (-2.55%)
$XLM slipped from the $0.30 mark and is now trying to bounce—but honestly, it’s not convincing.
Momentum’s weak, and unless bulls step in hard, this could just be a setup for the next leg down.
Here’s the Short Setup We’re Watching:
Entry Zone: $0.2915 – $0.2935
Target 1: $0.2855
Target 2: $0.2780
Stop Loss: $0.2960
Resistance Zones:
$0.2945 – Already showing signs of rejection
$0.2980 – Last line of defense for the bulls
Support Levels:
$0.2845 – Could get tested fast
$0.2760 – Bigger move target if the drop accelerates
What’s the Play?
This bounce feels more like a pause in the downtrend than a reversal.
Price is forming lower highs, and if it stalls near $0.294, we could see another solid push down.
Pro Tip:
Watch for a bearish engulfing candle or a strong rejection wick near $0.293—especially if volume kicks in. That’s your entry confirmation.
Bottom Line:
Let the setup come to you. If the chart gives you the right signals, it could be a clean short.
Trade with patience and precision—no need to rush.