As the death cross is confirmed, a technical pattern in which the moving average crosses for 50 days without the moving average for 200 days, Stellar entered the Habbiyah area. This style usually indicates a lengthy, and investor decline trust. This may not be clear as it appears first. XLM has lost more than 3 % last day, and continued in its downward direction for a month, and is currently being traded at about $ 0.234.
The failure of the original to obtain bullish momentum since its peak in early December 2024 is reflected in the recently formed death cross. The declining momentum is supported, at least classically technically, through the averages of movement for 50 days and 200 days, which descend to the bottom. Despite the declining intersection, there are initial indications that this death cross may not be accurate. The RSI is close to the sale area, which is currently hovering about 38.
This means that there may be space for the short -term artistic repulsion because the sale pressure may be excessive at the present time. Moreover, the full surrender event is not always consistent with the size patterns. Although there is a slight increase in trading activity during the last sales process, the contradictions that are usually associated with important direction.
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This creates the possibility of a fake position in which the death cross leads to the sale of panic, which is followed by a dramatic recovery. XLM will need to recover important resistance levels, especially $ 0.26 and $ 0.28, where the moving averages are present for 50 days and 200 days today, in order to refute the decline. The cross of death will become a bear trap if there is an outbreak over these, indicating fresh bullish momentum.
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There is no doubt that the Stellar Cross is a warning sign, but merchants must be careful to avoid going out. Given that the momentum settles and the indicators come close to the levels of excessive sale, the next few days may reveal the actual direction of XLM, which may not be a decline.
