XLMUSDT: Bearish Pressure Rising – Breakdown or Fakeout?
2025-01-23
Category: None

   

💥  BINANCE:XLMUSDT.P  continues its downtrend, struggling under a descending trendline, currently trading around  0.42018 USDT . The price has failed to break above resistance, strengthening the bearish momentum. Will we see a breakdown or a reversal soon?  

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🔑  Key Levels:   

 Support:   
   
 0.41998 USDT  — immediate support currently being tested.  
 0.41651 USDT  — a key level where buyers may step in.  
 0.40268 USDT  — if price reaches here, bears are fully in control.  
   

 Resistance:   
   
 0.44319 USDT  — critical level, a breakout here could break the downtrend.  
 0.44763 USDT  — liquidity zone, potential upside target.  
 0.50000 USDT  — longer-term target, requiring strong demand.  
   

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🚩  Trading Strategy:   

 Entry Points:   
- A short setup if price breaks below  0.41998 USDT  with strong volume confirmation.  
- A long setup only if price shows a clear reversal above  0.44319 USDT .  

 Stop-Loss:   
- Shorts should have SL above  0.44319 USDT .  
- Longs should place SL below  0.41651 USDT  to avoid liquidity traps.  

 Take-Profit Targets:   
   
 0.41530 USDT  — first target for shorts.  
 0.40268 USDT  — potential bottom where buyers may appear.  
 0.44763 USDT  — in case of a bullish breakout.  
   

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📈  Technical Analysis:   

   
 The downtrend remains intact as long as price stays below the descending trendline.  
 Low trading volume suggests weak bullish momentum.  
 A breakdown could accelerate selling as long positions get liquidated.  
   

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💡  Conclusion:   

Price is at a critical zone – if support fails, bears could push it below 0.40 USDT. The big question is: will this be a liquidity grab with a sharp reversal, or will bears keep the pressure on? Let's discuss! 🐻📉  