The previous downtrend has not yet fully reversed
2024-08-12

The XLM price has reached a significant support level and is gradually attempting to recover. This support zone acts as a key point for price stabilization, but the previous downtrend has not yet fully reversed.

 Support and Resistance Levels: 

 Support Levels: 
$0.0987 USDT: This level serves as the primary support, with the price attempting to rebound near this level.

 $0.0950 USDT:  This lower support level may act as a backup if the $0.0987 level is broken.

 Resistance Levels: 
 $0.1012 USDT:  This is the first resistance level that the price must break through to confirm a trend reversal.
 $0.1030 USDT:  Breaking this next resistance level could signal the return of buyer strength and the potential start of a new upward trend.

The XLM/USDT chart shows that the price has reached a significant support area and is trying to rebound. Breaking through the $0.1012 and $0.1030 resistance levels could confirm a trend reversal and the beginning of an upward movement. However, if the price fails to break these levels, the downtrend may continue.