Stellar (XLM) Buyer-Seller Standoff Could Be Ending And This Side Is About to Lose

Stellar (XLM) has experienced a 14.7% decline over the past month, but recent flat trading suggests the correction may be ending. Technically, XLM is trading within a symmetrical triangle pattern, indicating indecision between buyers and sellers, though the pattern's weak trendlines suggest a breakout could happen easily. On-chain analysis using the Wyckoff Volume Chart shows that selling pressure (yellow bars) is shrinking, mirroring a pattern that preceded a 15.1% price rise in mid-October. Key support for XLM is holding at $0.30; if this level is maintained, a move toward $0.33 and potentially $0.39 is likely, as breaking the weak upper resistance may be easier than breaking down. However, a loss of the $0.30 support could lead to further declines toward $0.28.

(Source：BeInCrypto)