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Stellar Holders Beware: This Chart Signals Trouble
- Stellar (XLM) is trading around $0.260, just above a key support zone, following rejection from the 50-day moving average.
- XLM price on the daily chart shows a slow decline, nearing key demand levels, signaling weakened sentiment on the hourly chart.
- The daily Heikin Ashi chart displays a bearish trend since mid-May, with XLM struggling below key SMAs and Fibonacci extension levels suggesting a possible drop to $0.22.
- Hourly chart indicates a recent sharp fall with consolidation around $0.259–$0.260, while SMAs act as resistance around $0.265, pointing to potential further decline to $0.254.
- Reversal hope depends on closing above $0.271, targeting $0.30; failure may lead XLM price towards $0.24 and $0.22 levels with buyers defending at lower prices.
- Risk-reward analysis suggests buying at $0.260 with a stop loss at $0.24, targeting $0.30, with a 2:1 risk/reward ratio pending bullish momentum confirmation.
- Bears could drive XLM towards $0.22 by June end if Bitcoin pressure continues, while positive sentiment may help reclaim $0.27 and target $0.30 with no major bullish signals yet confirmed.
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