With A Double Top, XLM Price Struggles Above $0.14Despite struggling, XLM fails to rise above the $0.16 resistance level, forming a double-top pattern near 23.60% Fibonacci level.
Long-wick candle formations at $0.16 signify significant supply pressure, suggesting profit-booking above $0.16.
Over the last four days, the Stellar price has decreased by 7.79%, implying an increased likelihood of a downtrend below $0.142.
With an intraday fall of 1.88%, XLM trading at $0.1472 close to the double top neckline hints at a possible bearish breakdown.
Fallout could push XLM prices down to the 38.20% Fibonacci level at $0.1298.
Positive recovery and lower price rejection could maintain Stellar price above $0.14, potentially rebounding to $0.16 for a bullish breakout attempt.
Both Stochastic and RSI indicators reflect a strong bearish trend, implying a bearish outlook for XLM.