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XLM Struggles Below Resistance, Eyes $0.24 on Weak Momentum
- XLM is trading at $0.2597, reflecting a slight decline of 0.14% in the last 4-hour session.
- XLM shows bearish pressure near key support levels and struggles below resistance, indicating growing indecision among traders.
- Repeated rejections from the $0.2848–$0.2895 zone suggest fading bullish strength in XLM's price movement.
- On the 4-hour chart, XLM is near the 9-period DEMA at $0.2595, showing a neutral stance with downside risk.
- The Bollinger Bands indicate weakening bullish momentum as XLM trades below the midline at $0.2734.
- XLM faces potential oversold conditions as it nears the lower Bollinger Band at $0.2573, raising the risk of a sharp drop if support fails.
- The resistance zone between $0.2848 and $0.2895 remains a barrier for XLM, highlighting a bearish outlook.
- The immediate support region for XLM is between $0.2534 and $0.2525, with a break below potentially targeting the $0.24 range.
- A sustained move above $0.2734 could shift short-term sentiment in favor of bulls, aiming for a retest of the $0.2848 resistance area.
- XLM is at a crucial technical juncture with the next price action determining the direction of the upcoming move.
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