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Stellar Lumens (XLM) price prediction – XLM bulls seek re-entry at…
After a 45% surge in early January, Stellar Lumens has experienced a significant pullback. However, the recent market downturn may have created a buying opportunity for swing traders and investors. The cryptocurrency’s ongoing correction was heading towards key support levels of $0.3 and $0.36, which could attract bulls seeking to re-enter the market.
The daily chart market structure remained bullish, pending a bearish shift if the retracement extended below the recent low at $0.32. Until then, the current outlook is primed for bulls. The 18% pullback brought the cryptocurrency close to key levels of $0.36 and the December support that halted the holiday sell-off at $0.30. The two levels could be a market re-entry point for bulls targeting overhead supply below $0.50 (red zone).
The bullish thesis would be invalidated if XLM extends its decline below $0.3. Furthermore, the weekly charts reinforced the $0.3 support by marking it as a breaker block that could trigger a price rebound if defended.
From a liquidity sweep perspective, there are two upside liquidity levels worth monitoring. The first is between $0.43 and $0.45, while the second lies at $0.48. In most cases, these high-liquidity zones serve as magnets for price action. If this holds true, they could be the next key upside targets to be tapped by a likely XLM rebound.
Interestingly, the upper liquidity zone aligns with the supply zone below $0.50 on the price charts. This presents an opportunity for investors to book partial profits at the first target and liquidate their remaining holdings when the price reaches the $0.48-$0.5
Source: ambcrypto.com
