Crypto Express

07/16 05:49

XLM 4 hour Chart analysis

While the 1-day chart showed strength, the 4-hour chart highlighted a bearish divergence. The MFI and the price, marked in orange, diverged to signal that a pullback was imminent.

This pullback saw XLM prices recede to $0.43. The CMF also fell to neutral values.

Overall, the bearish divergence has played out, seeing the XLM price revisit the fair value gap as a demand zone.

A deeper Bitcoin correction below the $116k mark could bring XLM prices lower, but until that happens, traders can maintain their bullish bias for Stellar.

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