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Cryptoknowmics 2022-04-06 20:10:35

Stellar Lumens (XLM) dumps after a 44% Surge, XLM Could Retest $0.19

Stellar Lumens (XLM) is down 12 percent on the previous trading day versus the USDT. As sellers flow back, the coin may dump to retest $0.19. Past Performance Stellar Lumens is free-falling at spot rates, dropping 12 percent versus the USDT in the past 24 hours. Technically, XLM remains in a bullish breakout pattern above a multi-week resistance trend line as prices bottom up. However, following today’s losses, sellers are pressing lower in a possible retracement after a 44 percent surge from 2022 lows. Stellar Lumens Technical Analysis In the immediate term, sellers are in the driving seat. There are lower lows versus the upper BB as XLM prices slide below crucial support levels and the 20-day moving average. Notably, the April 6 bear engulfing bull bar reversing recent gains is with markedly high trading volumes, further confirming the losses of April 5. Therefore, as XLM trends lower in a possible cool-off, traders may find entries on every pullback towards $0.22 to unload with targets at $0.19. What to Expect from XLM? XLM is under intense selling pressure at spot rates. Although there might be an over-extension to the downside, traders may unpack on pullbacks towards $0.22. In all, sellers may drive Stellar Lumens prices lower in a healthy contraction following a 44 percent from March 2022 lows.The post Stellar Lumens (XLM) dumps after a 44% Surge, XLM Could Retest $0.19 appeared first on Cryptoknowmics-Crypto News and Media Platform.

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