$XLM
📊 Technical Analysis for XLM/USDT – 4 Hour Timeframe
🔹 Overall Trend:
The price is still in an upward trend in the short term after a strong rebound from the 0.3613 area up to the recent peak at 0.4689, then the price began to move sideways near the 0.4500 area.
🔹 Technical Indicators:
Bollinger Bands: The price is currently moving above the middle line (0.4306), indicating the continuation of upward momentum as long as this level is not broken.
MACD: A slowdown in positive momentum is evident, with a possibility of starting a minor correction wave before continuing the rise.
Stoch RSI: In neutral areas after exiting the overbought territory, providing an opportunity for more volatility before the next strong movement.
Trading Volume: Slightly decreased after the rise, which is normal during the consolidation phase before determining the next direction.
🔹 Support and Resistance Levels:
First Support: 0.4440
Second Support: 0.4300
First Resistance: 0.4570
Second Resistance: 0.4680 (previous peak)
🔹 Expected Scenario:
If the price maintains trading above 0.4440, a retest of the 0.4570 area is expected, then 0.4680, and if the latter is broken with a strong close, we may see the upward extension towards 0.4820. On the other hand, breaking the 0.4440 support may push the price to test 0.4300.
✍️ Note: This analysis is based on current technical data and is not considered direct financial advice; always manage your risk.