Stellar XLM dey under sell pressure amid bearish signs
Stellar (XLM) price don drop by 16.1% for di last one month plus 8.2% inside di last week. Futures open interest don drop almost 50% from $588.5 million reduce go $306.2 million. Dis kain drop for futures volume dey add more pressure for Stellar wey dem wan sell for spot market. For 12-hour charts, the 20-period EMA don cross below the 50-period EMA. E fit be say another bearish crossover go show for 4-hour chart if 50 EMA fall under 200 EMA. These signs dey show say price fit continue to go down with more selling pressure on top Stellar. XLM dey trade near support for $0.39, close to $0.38 and $0.36. If price break below these levels fit make the thing crash go $0.23 which be like 40% drop. Daily descending triangle formation still dey confirm how bearish the market be. Prices need close above $0.43 if dem want stop the downtrend and make recovery start. Traders make dem keep eye for key support and resistance levels well well as technical indicators dey guide market feeling.
Bearish
Plenti technical signals wey dem dey show sey Stellar’s XLM go dey on one steady downtrend. Nearly 50% drop for futures open interest dey show sey people wey dey bullish dey reduce, e make spot trades dey more sensitive to big orders. EMA crossovers for 12-hour chart (20 below 50) and possible 4-hour chart (50 below 200) reflect past bearish times wey lead to quick sell-offs. Di daily descending triangle formation, na classic continuation pattern, e dey hint sey price fit fall reach $0.23 if support for $0.38–0.36 no hold. Historically, di similar EMA and triangle breakouts don first happen before altcoins dey fall 30–50%. Short term, traders fit face more wahala with volatility and pressure to go down. Long term, unless XLM close above $0.43 to change di bearish trend, di bearish momentum fit continue because futures volume low and market sentiment no strong.