The recent breakdown of Stellar [XLM] from a bearish pattern indicates significant downside risk, with projections estimating a drop to 0.378 USD. Negative funding rates and rising sell volumes reflect a market dominated by sellers, creating a challenging environment for potential recovery.
Stellar’s price witnessed a decline of over 5% impacting investor confidence, highlighting weakening market sentiment. The increased long liquidations signal that leveraged traders lacking bullish conviction are being forced out, reinforcing the bearish outlook for XLM.
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