The previous downtrend has not yet fully reversed

XLM/USDT is at a crucial support zone, attempting recovery. Watch for resistance levels at $0.1012 and $0.1030 to confirm a trend reversal and potential upward movement.

8/13/20241 min read

XLM/USDT price chart highlighting key support levels at $0.0987 and $0.0950, with resistance levels
XLM/USDT price chart highlighting key support levels at $0.0987 and $0.0950, with resistance levels

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.