XLM Price Plunge Warning: Cryptocurrency’s Recent Trend May Suggest Unprecedented Crash

XRP Rival XLM Price Could Be on Verge of Biggest Crash Since 2021 If Bollinger Bands Pattern Is Validated

Stellar’s native token, XLM, has been on a downward trajectory for the past three weeks, with a 40% drop in value. This comes after it reached a high of $0.797 back in December 2021. However, a recent development in the Bollinger Bands pattern may suggest that XLM is on the verge of another massive crash, similar to what happened in 2021 when its price dropped by 48.73% in just one week.

As we reported earlier this year, XLM’s price reached an all-time high and then promptly dropped by nearly half in a matter of days. It appears that history may be repeating itself as the asset’s price has been declining rapidly over the past few weeks.

The recent drop in value is particularly concerning due to the formation of the Bollinger Bands pattern, which indicates a potential reversal in the market trend. The pattern suggests that XLM’s price could potentially drop by another 45% or more if this prediction holds true.

This news comes as a warning sign for investors who have been holding onto their XLM assets in hopes of seeing the cryptocurrency continue its upward momentum. While it is impossible to predict with certainty what will happen next, this development does suggest that caution should be taken when considering investments in the asset at this time.

It’s worth noting that historical data may not always provide an accurate forecast for future price action. XLM’s price could still go up, down or remain stagnant. However, the Bollinger Bands pattern provides a critical perspective on the market, indicating potential reversals and changes in momentum.

At U.Today, we will continue to monitor this situation closely and keep our readers informed of any significant developments regarding XLM’s price action and overall market trends.

Source: u.today