XLM: Still Holding Key Support

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XLM: Still Holding Key SupportStellar / TetherUSBINANCE:XLMUSDTDukesMarketAnalysisKey Support Continues to Hold Stellar continues to defend the key $0.17-$0.18 daily/weekly support area, with another reaction from the zone on Wednesday. Buyers have repeatedly stepped in around this area, keeping the current structure intact for now. 100/50-Day EMAs Remain Bullishly Crossed The 100/50-day EMAs remain bullishly crossed, with price currently trading around those averages. The bulls will want to see price push clear of the EMAs and use them as support to strengthen the short-term picture. $0.1688 Remains the Risk Level The recent $0.1688 swing low remains the key level I'm watching to the downside. A clear break below this low could have further bearish implications and signal that the wider support area is beginning to fail. Bulls Still Need a Break of Structure To the upside, $0.2158 remains the level to beat, with price still trading below the recent swing high. A clear break above would give the bulls a potential bullish break of structure and improve the wider picture. Momentum Remains Mixed The RSI continues to chop around the 50 level, while the StochRSI is falling and sits around mid-range. Momentum remains relatively neutral, although the large buying volume spikes are certainly worth keeping an eye on. Summary Stellar continues to hold the key $0.17-$0.18 daily/weekly support area, while the 100/50-day EMAs remain bullishly crossed. However, price is still trading around those averages and momentum remains mixed. A break above $0.2158 would give the bulls a potential bullish break of structure, while losing $0.1688 could have further bearish implications. For now, support is holding, but there's still work to do.