$XLM Gloomy forecast: On the 4-hour chart, the 50 EMA has crossed below the 100 EMA, indicating a clear shift in trend momentum.
Short liquidations amounted to $75.82 million against long liquidations of $20 million, suggesting a potential for short position squeezes.
The price #XLM has broken the "pennant" pattern; support is near $0.40. In case of a breakout, the level of $0.36 may come into play.
The nearest support level is now at $0.40. If it is fully breached, the bearish crossover and BBP pressure could lead to a rise to $0.36 in the upcoming sessions.