The Parabolic SAR, which is above the candles, indicates that the bearish trend for XLM is starting to gain strength. This technical signal suggests that bearish momentum is taking control, making it difficult for the altcoin to surpass the resistance of 0.50 dollars.
However, the Golden Cross, which is currently present, has the potential to neutralize the effects of the bearish trend. The Golden Cross is a bullish indicator that typically signals a long-term upward movement.
Despite the recent bearish signals, it may provide the necessary support to halt the decline in XLM's price.
The overall macro momentum for XLM shows mixed signals, as reflected in the Chaikin Money Flow (CMF) indicator. Last week, the CMF reached an eight-month high, indicating strong inflows and bullish sentiment.
However, the indicator has begun to decline, suggesting that buying pressure is weakening. Despite this, the CMF remains above the zero line, indicating that inflows still exceed outflows.
If the CMF falls below the zero line, it would indicate that outflows are dominating, which would be a negative sign for XLM. A further decline in the CMF would likely put additional downward pressure on the price, confirming the bearish outlook for the altcoin.