The previous bounce scenario did not work out: the 4-hour candle at 10:00 closed with a powerful bearish impulse, breaking through the cascade of moving averages (EMA 15/25/50) downwards. The positional loss was 3%, and now it is important not to "overstay" the loss, but to adapt to the new reality.
There has been a loss of dynamic support and a price consolidation below EMA(50). This situation opens up excellent prospects for an 8 - 10 % movement after the retest of the averages.
Entry zone (Short): 1700 - 17100 - exit 16400.
Currently, XLM looks weak, and trying to catch a "falling knife" can be dangerous. We are waiting for a technical retest of the averages to open a short position.
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XLMUSDT
Perp
0.16891
-0.04%