The XLM Technical Analysis shows a retest phase of a triangle breakout struggling to sustain above the 50-day EMA for a post-retest reversal. The XLM price resonated in a descending triangle pattern for almost four months. However, the coin price gave a bullish breakout from the pattern’s resistance trendline, which the XLM traders witnessed on September 22nd. Currently, the bulls prepare a post-retest reversal pad at the 50-day EMA. So, should you consider buying a Stellar (XLM) token this week? Key Points: The Stellar prices struggle for a post-retest reversal from the broken trendline. The market value sustains above the 50-day EMA. The intraday trading volume in Stellar is $672 million. Source – TradingView XLM Technical Analysis On September 22nd, the XLM price gave a massive breakout from the resistance trendline, indicating that buyers are making a recovery attempt despite uncertain market sentiment. However, this pattern breakout couldn’t provide enough bullish momentum to surpass the monthly resistance of $0.13. As a result, the XLM price turned down from the resistance above with an evening star candle. Moreover, with the recent rise in U.S. Dollar Index (DXY), the crypto market faced more selling pressure, fueling the ongoing downfall in most cryptocurrencies. Thus, in the last four days, the XLM price tumbled 6.52% and breached the combined support of the breached trendline and $0.1155. Even today, the altcoin rete...
