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Stellar (XLM) Death Cross Confirmed, But It Might Be Fake
The cryptocurrency market is known for its unpredictability, and recent events have only added fuel to the fire. In a shocking turn of events, Stellar’s (XLM) death cross has been confirmed, sparking concerns about the coin’s future prospects.
However, it appears that this bearish signal might not be as ominous as it initially seemed. The XLM/USD chart reveals that the 50-day moving average has crossed below the 200-day moving average, a phenomenon known as a death cross. This development typically portends further decline in prices.
But there is more to the story than meets the eye. The cryptocurrency market’s recent volatility has led to an interesting phenomenon. Stellar’s price action has exhibited a characteristic of being extremely oversold.
This begs the question: Is this bearish signal a false alarm?
Source: https://u.today/stellar-xlm-death-cross-confirmed-but-it-might-be-fake
