XLM Hits $0.17 Double Bottom, But SuperTrend Keeps Bears at Bay

XLM's price is currently at $0.17, which could be a double bottom formation according to Crypto With Gopal.

The bounce from the local bottom of $0.169 was relatively mild, and Bollinger Bands hint that $0.17155 is the breakout level for bulls to achieve dominance.

However, combined with the SuperTrend, a bullish thesis could be put on hold as lower highs & lower lows coupled with a decreasing SuperTrend line signal a change in price trend.

The Chaikin Money Flow (CMF) index is still in negative figures, indicating that big-time Stellar Lumens investors are not buying into the double bottom yet.