STELLAR PRICE ANALYSIS & PREDICTION (February 16) –XLM Shows Strength Following a Double-Digit Gain Overnight, Looking For a Retest
Locating temporal support at $0.3, XLM Bounces slightly and showed strength today following a steady increase since the start of the week. The selling pressure may resume if the bulls fail to sustain pressure. After last week’s sudden crash, which was followed by a quick rejection, XLM established support above $0.3 and increased this week. It now floats above $0.35 following the latest recovery across the market. This recovery targets the $0.41 level that triggered the early month drops. A retest at this price level will determine the next direction of the market. While rejecting the level may cause another leg down, a notable break above it will likely signal a potential reversal in the existing trend. However, XLM’s trend is still considered bearish on the short-term scale following an extending correction this month. This came after breaking below $0.4 […]