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Home»ALTCOIN NEWS»Stellar (XLM) rose 608% in 21 days. This is the next key near-term area.
ALTCOIN NEWS

Stellar (XLM) rose 608% in 21 days. This is the next key near-term area.

By Crypto FlexsNovember 29, 20242 Mins Read
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Stellar (XLM) rose 608% in 21 days. This is the next key near-term area.
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Posted on: November 29, 2024

  • Last Sunday, daily XLM trading volume exceeded $2.8 billion.
  • The token may enter a retracement phase.

Stellar (XLM) is 25% below the local high it reached last weekend. Despite this decline, the token is still 390.5% higher than it was three weeks ago, thanks to the strength of Bitcoin (BTC).

Stellar’s all-time high is $0.8756, set in January 2018. Fibonacci extension levels outline $0.766 to $0.975 as the next long-term bullish target.

However, the altcoin is entering a retracement phase and could fall above $0.363.

XLM demand is surging.

XLM 1 day chartXLM 1 day chart

Source: TradingView XLM/USDT

From its low on November 4th to its high on Sunday, November 24th, Stellar recorded a significant gain of 608% in 20 days.

For assets with a market capitalization of $14.3 billion, these returns are phenomenal. Their speed was also incredible.

CMF is +0.17 and has been above +0.15 since November 6th. This is another surprising phenomenon, since values ​​above +0.05 are sufficient to indicate significant capital inflows.

Trading volume also increased, reaching a record high of $2.83 billion on Sunday.

The Money Flow Index has not yet shown a bearish divergence on the daily chart. This week’s decline means MFI is likely to move lower as XLM moves back towards key Fibonacci support levels.

Prices may fall due to prolonged liquidation

XLM Liquidation MapXLM Liquidation Map

Source: Coinglass

Liquidation map data illustrates a cluster of liquidation levels around the $0.46-$0.473 area. The size of these long-term clearings was larger than that of the nearby short-term clearing clusters.

Therefore, it is likely that XLM will fall to $0.46 in the coming days.

XLM liquidation heatmapXLM liquidation heatmap

Source: Coinglass


Read Stellar (XLM) Price Prediction for 2024-25


A heatmap of liquidations over the past two weeks illustrates two key areas that could have an impact going forward. The liquidity pool closer to the market price expanded from $0.533 to $0.55.

To the south, there is a similarly sized cluster of liquidity around $0.4. The $0.463 level is also a magnet where Stellar could see a rebound in the near term.

Disclaimer: The information presented does not constitute financial, investment, trading, or any other type of advice and is solely the opinion of the author.

Next: Bitcoin Surpasses 2015-2018 Cycle Is $100K ATH next?

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