Technical analysis by Sahrin about Symbol XLM: Sell recommendation (10/14/2024)

Range: The upper band is around $0.10, and the lower band is around $0.085, defining a potential trading range.The price is below the middle Bollinger Band, which aligns with a possible bearish bias in the short term.There has been no strong breakout above the middle band, indicating that the downtrend may still be in play.Volume seems relatively steady without any significant spikes, suggesting no major buying or selling pressure at this time.A break above the middle Bollinger Band (near $0.10) could indicate a potential bullish reversal.On the downside, if the price breaks below the lower Bollinger Band ($0.085), it could signal further downside movement.Wait for a breakout from the Bollinger Band squeeze to gauge the next direction.Watch for a move above the middle band ($0.10) for a potential long trade with the upper Bollinger Band as a target.Alternatively, if the price fails to hold above $0.085, a short position could be considered with a tight stop.