Stellar (XLM) technical analysis


The Stellar price hit a new yearly high on June 30 when it rose to $0.12. However, despite the increase, it failed to break through and closed above the $0.11 resistance. Instead, it created a long top wick, which is considered a sign of selling pressure.
Then, the price dropped rapidly. The price of the cryptocurrency is currently trading at the support level at $0.09.
If XLM bounces, it could attempt to climb above $0.11. However, if it breaks down, it could drop to the next support point at $0.08.
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