XLM Technical Analysis: Will Stellar Dive Down Back To $0.10?

The XLM technical analysis displays a bearish reversal within a descending triangle pattern, teasing a price drop to the $1 mark. The XLM price action displays a bearish reversal from the long-coming resistance trendline within the descending triangle. Moreover, the ongoing resistance confluence of $0.119, 100-day EMA, and the resistance trendline teasing a 10% drop. So, should you not expect a bullish breakout? Key Points: The Stellar prices show a bear cycle in the descending triangle pattern. The power struggle at the resistance confluence remains crucial in upcoming trend selection. The intraday trading volume in Stellar is $305 Million. Source-Tradingview XLM Technical Analysis The XLM price displays the bullish reversal with a double bottom pattern at the $0.1 mark, reaching the descending trendline’s overhead resistance. However, the multiple bearish milestones of the $1.1 level, the 100-day EMA, and the bearish trendline revert the price growth. After the remarkable rise of 17% within a week, the bearish influence over the daily candle declines the market value by 3.67%. With the reversal from the 100-day EMA, the bear cycle may shortly cross under the 50-day SMA giving a sell signal. Currently, the intraday trading volume spike fails to bring any bullish follow-through, adding points to the trend reversal possibility. If the selling pressure persists, the downtrend can lead to the 50-day EMA breakout resulting in a du...