$XLM
Technical Analysis for XLM/USDT – Time Frame: 4 Hours
Current Price: 0.3955
Daily Drop Percentage: -4.63%
Current Technical Situation:
General Trend: Descending corrective after the price failed to break the resistance at 0.4289.
Current Support: The Simple Moving Average 20 (around 0.3974) currently acts as temporary support, but breaking it could push the price down towards the lower Bollinger support at 0.3675.
Nearby Resistance: 0.4145 then 0.4289.
Technical Indicators:
Relative Strength Index RSI (14): at 46.17, showing a decline from the neutral zone, indicating weakness in upward momentum.
Stochastic RSI: in the oversold region (5.22), indicating the possibility of a short-term upward rebound.
MACD: shows a weak negative crossover, but the momentum is still limited, indicating a state of anticipation.
Trading Volume:
The trading volume shows a gradual decline, confirming the weakness of buying momentum after the recent rise.
Upcoming Expectation:
If the level of 0.3920 is broken, there is a high probability of falling towards the stronger support area between 0.3880 – 0.3810.
However, in the case of a rebound from this area, the price may return to test resistance levels at 0.4140 – 0.4200.
Summary:
Short-term Trend: Downward
Buying Opportunities: Monitor the support area 0.3880 – 0.3810 for entry
Selling Opportunities: Strong resistance at 0.4140 – 0.4289
