Stellar's native token XLM is under rising bearish pressure as technical indicators warn of a potential double death cross. XLM is trading near $0.1684, well below its October closing high of $0.2370, and repeated recovery attempts have failed to hold. According to TradingView data, the 50-day moving average has already crossed below the 100-day moving average, while the shorter average is now approaching the 200-day moving average near $0.19. That creates the risk of another negative crossover, reinforcing a bearish structure with all three major moving averages sitting above the current price.
Key support and resistance levels are now in focus. Stellar lost the $0.19 and $0.18 levels in October, and its latest rebound reached roughly $0.187 before sellers regained control. Trading volume has declined alongside the price, suggesting limited buying interest, while the relative strength index remains near 40, showing weak momentum but not yet an oversold reading. If XLM breaks below the recent $0.167 low, the next major target is the $0.15 support level, roughly 11% below current prices. That area previously attracted strong buying during the August decline and helped push XLM above $0.22. A loss of $0.15 could expose the $0.14 region last visited in May. On the upside, buyers would need to reclaim $0.18 before challenging the 200-day moving average near $0.19, which would weaken the bearish setup.
The token has also given back a broader rally. Analyst Jesse Olson reported that XLM reached all four upside targets after a buy signal appeared on a break above descending resistance. The projected move toward the fourth target offered roughly 47% upside, and price later climbed toward $0.24 before turning lower. It broke beneath its rising trendline and then slipped below the former $0.18 breakout level. Liquidation data from late April through October shows the largest burst of forced closures around May 28 to May 30, when short liquidations approached $10 million while price rose toward $0.25 to $0.26. Smaller long liquidation clusters appeared in late August and September, but none matched the late-May event.
Current market conditions remain fragile. As of writing, XLM is at about $0.1686, down 1.06% over 24 hours and 4.47% over the past week, with daily trading volume near $83.56 million. Earlier in the session, the price dropped toward $0.1668, rebounded above $0.1690 and approached $0.1720, but sellers quickly took control again. Immediate support sits near $0.1680, with a break below that exposing the $0.1670 to $0.1668 area. The former breakout level near $0.18 remains far above the current price, making a meaningful recovery difficult without stronger demand.
