XLM Charts Right Shoulder, Is Stellar Ready for a Trend Reversal?
The post XLM Charts Right Shoulder, Is Stellar Ready for a Trend Reversal? appeared on BitcoinEthereumNews.com. Key Insights: XLM forms a head-and-shoulders pattern with neckline resistance at $0.48–$0.50, signaling possible reversal if breakout holds. Short-term breakdown sent XLM 16% lower, testing support near $0.38–$0.40 with sellers controlling momentum. Daily bullish structure clashes with intraday bearish signals, leaving traders watching $0.38 support for the next move. XLM Charts Right Shoulder, Is Stellar Ready for a Trend Reversal? Stellar (XLM) was trading at $0.41 at press time, showing a 1% decline in the past 24 hours and a 3.63% drop over the past week. Daily trading volume stands at $380.46 million, reflecting continued activity while the token consolidates near key price levels. Analyst Ali shared that XLM is forming the right shoulder of a head-and-shoulders pattern, a structure often seen as a possible reversal signal. On the daily chart, the left shoulder developed earlier this year, followed by a deeper low forming the “head.” The current upward bounce and pullback suggest the right shoulder may now be taking shape. Ali commented, “Stellar XLM is forming the right shoulder of a head-and-shoulders pattern!” The neckline of this structure sits around $0.48–$0.50, which remains a critical resistance zone. A confirmed breakout above this level would validate the pattern and open the door for higher targets, potentially extending toward $0.70 and beyond $1.00. Source: Ali Martinez/X Breakdown and Short-Term Pressure On shorter time frames, analyst Franklin noted that XLM recently faced a breakdown after failing to hold the $0.46 resistance zone. Price fell by about 16%, providing profits for short positions during the move. He stated, “$XLM Breakdown in Action! Short position ripping with +16% profit. Secure profits or trail your stop-loss.” The 4-hour chart shows XLM falling back into the $0.39–$0.40 area, where it is currently consolidating. Key resistance remains unchanged at $0.44–$0.46, while immediate support sits near $0.38. If…
The post XLM Charts Right Shoulder, Is Stellar Ready for a Trend Reversal? appeared on BitcoinEthereumNews.com.
Key Insights: XLM forms a head-and-shoulders pattern with neckline resistance at $0.48–$0.50, signaling possible reversal if breakout holds. Short-term breakdown sent XLM 16% lower, testing support near $0.38–$0.40 with sellers controlling momentum. Daily bullish structure clashes with intraday bearish signals, leaving traders watching $0.38 support for the next move. XLM Charts Right Shoulder, Is Stellar Ready for a Trend Reversal? Stellar (XLM) was trading at $0.41 at press time, showing a 1% decline in the past 24 hours and a 3.63% drop over the past week. Daily trading volume stands at $380.46 million, reflecting continued activity while the token consolidates near key price levels. Analyst Ali shared that XLM is forming the right shoulder of a head-and-shoulders pattern, a structure often seen as a possible reversal signal. On the daily chart, the left shoulder developed earlier this year, followed by a deeper low forming the “head.” The current upward bounce and pullback suggest the right shoulder may now be taking shape. Ali commented, “Stellar XLM is forming the right shoulder of a head-and-shoulders pattern!” The neckline of this structure sits around $0.48–$0.50, which remains a critical resistance zone. A confirmed breakout above this level would validate the pattern and open the door for higher targets, potentially extending toward $0.70 and beyond $1.00. Source: Ali Martinez/X Breakdown and Short-Term Pressure On shorter time frames, analyst Franklin noted that XLM recently faced a breakdown after failing to hold the $0.46 resistance zone. Price fell by about 16%, providing profits for short positions during the move. He stated, “$XLM Breakdown in Action! Short position ripping with +16% profit. Secure profits or trail your stop-loss.” The 4-hour chart shows XLM falling back into the $0.39–$0.40 area, where it is currently consolidating. Key resistance remains unchanged at $0.44–$0.46, while immediate support sits near $0.38. If…
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