- At press time, traders were overleveraged at $0.339 at the bottom and $0.361 at the top.
- XLM’s open interest (OI) jumped 18% in the last 24 hours.
Stellar (XLM) seems to be attracting the attention of traders and investors due to its impressive performance over the past 24 hours.
The potential reason for XLM’s current strong performance could be price action and trader support.
At press time, XLM was trading near $0.355 after a price increase of over 8.5% in the past 24 hours. The asset’s trading volume highlighted the increased interest from investors and traders, as it jumped 55%.
XLM Technical Analysis and Upcoming Levels
According to technical analysis by AMBCrypto, XLM had formed a descending triangle pattern on the daily time frame. The price appears poised to break this trend as it has entered a tight consolidation zone.
Additionally, the altcoin had formed a bullish candlestick pattern near the bottom of the support level, signaling a potential price reversal.
Source: TradingView
Recent price action and historical momentum suggest that if XLM breaks out of this trend and closes a daily candle above the $0.371 mark, there is a high chance that it will rise by 62%, reaching the level of $0.60 in the coming days.
Currently, the asset is trading above the 200 exponential moving average (EMA) on the daily time frame, indicating that XLM remains in an uptrend.
Increase in OIs and major liquidation zones
Data from on-chain analytics firm Coinglass revealed that XLM’s open interest (OI) jumped 18% in the past 24 hours. This shows that traders were forming new positions, as sentiment around XLM began to change.
At press time, the main liquidation zones were near $0.339 at the bottom and $0.361 at the top, with traders overleveraged at these levels, according to Coinglass.
Source: Coinglass
Read Stellar (XLM) Price Prediction 2025-2026
Additionally, traders appeared to have formed an equal number of long and short positions at these levels. If the price of XLM reaches these levels, $3.12 million in short and long positions could be liquidated.
Thus, the sentiment for XLM was bullish, but the price needs to cross the $0.361 mark to see significant bullish momentum.
