Stellar [XLM] bulls exhausted after rally – Is a pullback nearby?
The post Stellar [XLM] bulls exhausted after rally – Is a pullback nearby? appeared on BitcoinEthereumNews.com. Key Takeaways XLM rose as high as the January 2025 high at $0.515, but was forced to halt, at least for the time being. The 4-hour timeframe developed a bearish divergence, showing overextended market conditions. Stellar [XLM] has challenged the high it set in mid-January 2025 at $0.515. After rallying 109.7% in a week, the XLM bulls were exhausted and forced backward. Stellar and the rest of the crypto market remained bullishly biased, as Bitcoin [BTC] was in price discovery mode and witnessed high bullish conviction. Ethereum [ETH], the altcoin market leader, was also set to rally further. AMBCrypto reported that a structurally driven divergence could see ETH climb to its ATH before the end of the year. Source: XLM/USDT on TradingView The weekly chart of XLM showed a firmly bullish structure. The first bullish structure break (orange) cane in May. A higher high (green) at $0.334 was established later that month, and a higher low (white) at $0.216 was set in June. The past week’s trading saw XLM rocket past the $0.334 high, challenging the $0.515 level from early 2025. This was a strong sign of bullish conviction, but the rejection measured just over 11% at the time of writing. This could see XLM correct further. How deep should you expect the dip to go? Mapping the potential XLM retracement Source: XLM/USDT on TradingView Based on the recent rally from $0.216 to $0.516, a set of Fibonacci retracement levels (white) were plotted. On the higher timeframes, the XLM structure was firmly bullish. Even a retracement as deep as $0.28 would maintain the bullish weekly structure. However, it did not seem likely that the dip would extend that far. The prime suspect for the next demand zone was the highs set in February at $0.364. This area coincided with the…
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The post Stellar [XLM] bulls exhausted after rally – Is a pullback nearby? appeared on BitcoinEthereumNews.com.
Key Takeaways XLM rose as high as the January 2025 high at $0.515, but was forced to halt, at least for the time being. The 4-hour timeframe developed a bearish divergence, showing overextended market conditions. Stellar [XLM] has challenged the high it set in mid-January 2025 at $0.515. After rallying 109.7% in a week, the XLM bulls were exhausted and forced backward. Stellar and the rest of the crypto market remained bullishly biased, as Bitcoin [BTC] was in price discovery mode and witnessed high bullish conviction. Ethereum [ETH], the altcoin market leader, was also set to rally further. AMBCrypto reported that a structurally driven divergence could see ETH climb to its ATH before the end of the year. Source: XLM/USDT on TradingView The weekly chart of XLM showed a firmly bullish structure. The first bullish structure break (orange) cane in May. A higher high (green) at $0.334 was established later that month, and a higher low (white) at $0.216 was set in June. The past week’s trading saw XLM rocket past the $0.334 high, challenging the $0.515 level from early 2025. This was a strong sign of bullish conviction, but the rejection measured just over 11% at the time of writing. This could see XLM correct further. How deep should you expect the dip to go? Mapping the potential XLM retracement Source: XLM/USDT on TradingView Based on the recent rally from $0.216 to $0.516, a set of Fibonacci retracement levels (white) were plotted. On the higher timeframes, the XLM structure was firmly bullish. Even a retracement as deep as $0.28 would maintain the bullish weekly structure. However, it did not seem likely that the dip would extend that far. The prime suspect for the next demand zone was the highs set in February at $0.364. This area coincided with the…
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