$XLM 📉 is still looking weak here. The coin is down around 16% over the last 30 days, and the selling pressure doesn’t look like it’s slowing down.
The May rally after the DTCC partnership news made the bigger daily structure look bullish, but since hitting around $0.297, XLM has been giving back most of that move. Sellers have been controlling the market, and the spot CVD has stayed negative since June, which basically tells us aggressive selling is still happening.
Right now, $0.16 is an important area. Price already tried to push through it and got rejected. Even the $0.161–$0.164 area could become a good place for sellers if XLM gets a bounce there.
If buyers can’t bring back strong volume, I’d be watching $0.155 closely. Losing that level could open the door toward the bigger support around $0.139.
So for me, I’m not trying to catch the bottom here. I’d rather wait for a bounce into resistance and see how sellers react. If XLM keeps failing around $0.16–$0.164, the downside setup remains interesting.
The May rally after the DTCC partnership news made the bigger daily structure look bullish, but since hitting around $0.297, XLM has been giving back most of that move. Sellers have been controlling the market, and the spot CVD has stayed negative since June, which basically tells us aggressive selling is still happening.
Right now, $0.16 is an important area. Price already tried to push through it and got rejected. Even the $0.161–$0.164 area could become a good place for sellers if XLM gets a bounce there.
If buyers can’t bring back strong volume, I’d be watching $0.155 closely. Losing that level could open the door toward the bigger support around $0.139.
So for me, I’m not trying to catch the bottom here. I’d rather wait for a bounce into resistance and see how sellers react. If XLM keeps failing around $0.16–$0.164, the downside setup remains interesting.