XLM Price Prediction: May 23 Forecast – Bearish Trends Dominate

Recent price fluctuations in the Stellar Lumens market have been marked by a bearish trend, according to CoinStats. The XLM/USD exchange rate has declined by 3.41% over the past day. Analysis of hourly chart patterns reveals local support at $0.2918. If selling pressure persists and the daily candle closes significantly below this level, further decline may be in store, potentially leading to a test of the $0.2850 zone. A false breakout above the resistance level of $0.3079 has resulted in downward trend observed on the longer time frame.