Explore Stellar Lumens' journey to reclaim pivotal levels and potential for future growth. Insights on XLM's recent price movements. Read more on CT.
- Stellar (XLM) strives to regain its position within the White Channel, focusing on key Fibonacci milestones.
- XLM has demonstrated resilience during a recent correction, breaching resistance zones and Fibonacci retracement levels.
- The cryptocurrency faces resistance at $0.13, with a potential breakthrough towards $0.15 shaping its short-term outlook.
Stellar Lumens (XLM) finds itself at a crucial juncture as it endeavors to regain its place within the White Channel. This endeavor holds immense significance for the cryptocurrency's future trajectory. XLM, renowned for its peer-to-peer (P2P) decentralized network, currently navigates through critical Fibonacci levels that could pave the way for substantial price movements.
EGRAG CRYPTO, a renowned crypto analyst on Twitter, shared a post providing insights on the latest developments in the Stellar Lumens (XLM) ecosystem:
At present, Stellar Lumens trade above $0.12 against the US Dollar, aligning with Bitcoin's overall trend. To establish the groundwork for a potential uptrend, XLM must successfully breach the pivotal $0.17 mark. However, XLM recently experienced a corrective phase, slipping below $0.15 and eventually testing support at $0.1200.
Despite these challenges, XLM displayed remarkable resilience by forming a price bottom near $0.123. Currently, it embarks on a recovery wave, having successfully surpassed the $0.12 support zone on the 4-hour chart. Notably, XLM also breached a significant bearish trend line that had previously limited gains to around $0.130. Additionally, the price surged beyond the 50% Fibonacci retracement level, encompassing the downward movement from the $0.123 swing high to the $0.128 low.
Read full article at CryptoTale.