XLM broke through $0.33 but encountered a "Waterloo"? Will it rebound or continue to fall in the next 24 hours?

Trend analysis:
XLM is currently priced at $0.3276, down 4.74% in the last 24 hours. From a technical perspective, the price has recently faced strong selling pressure, with MA7, MA25, and MA99 all showing a downward trend. The price has not yet been able to break through the short-term resistance level of $0.3370. The current RSI is only 30.46, entering the oversold zone, indicating that the downward momentum may weaken, but the bearish trend still prevails.

Support and Resistance Levels:
• Support level: $0.3179. If the price falls to this support level, it may encounter some buying support, and the probability of a rebound is relatively high.
• Resistance level: $0.3370. Breaking through the current resistance level would signal a bullish counterattack. If the price surpasses this point, a new uptrend may emerge.

Bull and Bear Game:
Currently, the bears are dominant, with MACD and DIF remaining in the negative zone, indicating heavy selling pressure. However, as RSI enters the oversold zone, a short-term rebound may occur, challenging the resistance above. The market is still looking for opportunities to rebound.

End:
XLM continues to be stuck in a downward channel, or will it break through resistance and rebound? Do you think the support level will hold? Hurry up and tell me your thoughts in the comments! If you also want to grasp more information about the currency circle, don't forget to follow me, and be the first to insight into market trends!