- At press time, traders were overleveraged, with the bottom at $0.339 and the top at $0.361.
- XLM’s open interest (OI) has surged 18% in the last 24 hours.
Stellar (XLM) seemed to be gaining the attention of traders and investors with its impressive performance over the past 24 hours.
A potential reason for XLM’s strong performance today could be price action and trader support.
At press time, XLM was trading near $0.355 after a price rally of more than 8.5% over the past 24 hours. The asset’s trading volume surged 55%, sparking interest among investors and traders.
XLM Technical Analysis and Future Levels
According to technical analysis by AMBCrypto, XLM has formed a descending triangle pattern on the daily time frame. It appears poised to break this pattern as price enters a narrow consolidation zone.
The altcoin also formed a bullish pin bar 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 pattern and closes the daily candle above $0.371, it will likely surge 62% and reach the $0.60 level in the future.
Currently, the asset is trading above the 200 exponential moving average (EMA) on the daily time frame, which indicates that XLM is still in an upward trend.
Rising OI and key clearing areas
XLM’s open interest (OI) has surged 18% in the past 24 hours, according to data from on-chain analytics firm Coinglass. This showed that traders were forming new positions as sentiment towards XLM began to change.
At press time, key liquidation areas were near the bottom of $0.339 and the top of $0.361, with traders using excessive leverage at these levels, according to Coinglass.
Source: Coinglass
Read Stellar (XLM) price prediction for 2025-2026
It also appears that traders have formed an equal number of buy and sell positions at this level. If XLM price moves to this level, $3.12 million worth of short and long positions could be liquidated.
So while the sentiment towards XLM has been bullish, the price would need to break above $0.361 to see significant upward momentum.