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Stellar Lumens (XLM) Price Analysis: Bearish Outlook in the Short to Medium Term

Stellar XLM: is this the LAST Chance To BUY?
Stellar XLM: is this the LAST Chance To BUY?

Stellar Lumens (XLM) is a cryptocurrency that aims to provide a fast, secure, and low-cost platform for cross-border payments. It has been gaining popularity in recent years, with partnerships with major financial institutions such as MoneyGram and IBM.

Recent Price Action

In recent weeks, the XLM/USDT pair on the Bitget spot exchange has seen significant fluctuations. The price broke recent local lows, shifting from a bullish to a bearish structure.

Technical Analysis

On the daily chart, XLM is below the 200 EMA, 50 EMA, and 50 SMA, with a potential death cross in the coming weeks. The analysis suggests a three-wave correction down, with further downside expected before a potential double bottom. The stochastic RSI indicates a potential downward shift in momentum.

Weekly analysis predicts more downside with a target of 3.5 to 8.37. XLM may remain oversold on the weekly timeframe for an extended period.

Conclusion

The technical analysis of Stellar Lumens suggests a bearish outlook for the cryptocurrency in the short to medium term. Investors and traders should be cautious and exercise proper risk management when trading XLM.

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