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Stellar Lumens (XLM) Soars And Slams Into Resistance

May 7, 2021 12:09 pm
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Stellar Lumens (XLM) Soars And Slams Into Resistance

It may be time to sell Stellar Lumens (CRYPTO:XLM).

On April 14, XLM rallied but then ran into a wall of sellers at the 66-cent level. This resistance put a halt to the rally. A steep decline followed and XLM reached 42 cents on April 25.

Now it has reached the important 66-cent level once more. And again, it has run into resistance.

If XLM can break through resistance and hold above it for a few days, it will mean the sellers who created the resistance are gone. Buyers will need to pay higher prices and this will lead to a rally.

But if the resistance doesn’t break, there’s a good chance XLM sells off and revisits the recent lows.

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