- XLM faces strong resistance at $0.3, limiting bullish momentum.
- Low trading volume suggests weakness stems from market uncertainty, not aggressive selling.
- Liquidation zones at $0.35 and $0.37 could trigger sharp price moves.
The price of XLM is struggling to break past $0.3, a key resistance level. Bulls have attempted a push, but sellers continue to block progress. Despite the bearish trend, trading volume remains low. This suggests weakness comes from market uncertainty rather than aggressive selling. A breakout could change the narrative, but sellers still hold the upper hand. Will buyers gain control, or will another rejection send prices lower?
https://x.com/JavonTM1/status/1895496151878828090?t=jFgmo_-P1y4b5aqwf5TZtA&s=19
XLM Struggles Against Strong Resistance
XLM's price action shows a fierce fight near $0.3. The 61.8% Fibonacci retracement level has turned from support to resistance. A sharp 19% bounce brought the price close to $0.299, but sellers stepped in. Bulls must reclaim $0.3 to shift momentum. Without this move, another drop remains likely.
Technical indicators reveal mixed signals. The daily RSI stays below 40, pointing to strong bearish pressure. However, the OBV has not declined, showing that large sell-offs have not happened. This leaves room for a potential rebound if Bitcoin reverses losses.
Liquidation Zones Could Spark Sharp Moves
The liquidation heatmap highlights danger zones for traders. A strong cluster of liquidation levels sits between $0.303 and $0.31. This area could attract price movement before another drop.
On a larger scale, the monthly heatmap reveals two major liquidity targets at $0.35 and $0.37. If XLM flips $0.3 into support, price action could accelerate toward these levels. In that scenario, traders must adjust their positions and prepare for further gains.
For now, XLM is at a crossroads. Resistance remains firm, but selling pressure lacks conviction. Traders should stay alert for a decisive breakout or another rejection that confirms the bearish trend.