$XLM After dropping from around 0.175, every bounce now feels tentative ๐
The current price is around 0.164, down slightly by 0.9% over the past 24 hours, with a high of 0.167 and a low of 0.160. Itโs down about 3.7% over the past 7 days, grinding lower with no real strength in the rebounds.
On October 28, the daily chart surged to around 0.175. The next day, it plunged straight through 0.16 and even touched 0.157 intraday. Over the following few days, it kept pulling back whenever it neared 0.167. On November 2 and 3, it pushed the low down to 0.160 again. The daily MA7 is now around 0.167 and the MA20 around 0.173, with the price sitting below both. The 4-hour chart is even more frustrating: every time it touches 0.167, it turns back down. Iโm watching 0.160 as support, with 0.157 in focus if it breaks. Resistance is at 0.167; letโs see if it can get past 0.170, and only then would the MA around 0.173 come into play. Futures volume over the past 24 hours is around 33.35 million U, with open interest of about 180 million tokens, worth roughly $29.6 million.
Iโm bearish. Until the price reclaims the moving averages, Iโm treating the levels above as resistance.
Beginners should watch more and trade less. If you buy crypto, buy only $BTC
The current price is around 0.164, down slightly by 0.9% over the past 24 hours, with a high of 0.167 and a low of 0.160. Itโs down about 3.7% over the past 7 days, grinding lower with no real strength in the rebounds.
On October 28, the daily chart surged to around 0.175. The next day, it plunged straight through 0.16 and even touched 0.157 intraday. Over the following few days, it kept pulling back whenever it neared 0.167. On November 2 and 3, it pushed the low down to 0.160 again. The daily MA7 is now around 0.167 and the MA20 around 0.173, with the price sitting below both. The 4-hour chart is even more frustrating: every time it touches 0.167, it turns back down. Iโm watching 0.160 as support, with 0.157 in focus if it breaks. Resistance is at 0.167; letโs see if it can get past 0.170, and only then would the MA around 0.173 come into play. Futures volume over the past 24 hours is around 33.35 million U, with open interest of about 180 million tokens, worth roughly $29.6 million.
Iโm bearish. Until the price reclaims the moving averages, Iโm treating the levels above as resistance.
Beginners should watch more and trade less. If you buy crypto, buy only $BTC
