$XLM SHORT CONTINUATION! 📉

🔴 Entry Zone: 0.2740 – 0.2760

🎯 TP: 0.2660

🛑 SL: 0.2815

My Thoughts:

The order book depth reveals an explicitly bearish market structure after $XLM suffered a heavy rejection at the 0.29786 high. Massive resistance has formed a rigid ceiling just above current prices, spearheaded by major sell blocks of 1.05M at 0.27500 and 1.13M at 0.27600. This aggressive wall of ask liquidity is shutting down any upward momentum. While there is immediate support stacked starting at 0.27100 (1.40M), the broader selling pressure from the rejection is driving the market down. Treating localized relief bounces into the entry zone as a short opportunity offers a high-probability continuation drop toward the major liquidity target at 0.26600 (1.08M).

XLM
XLMUSDT
0.25529
+3.60%