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XLM formed a descending triangle, signaling a potential 20% price breakout. Rising short liquidations and increasing Open Interest pointed to possible upward momentum. Stellar [XLM] has been consolidating within a descending triangle, suggesting a significant price move is imminent. This formation typically signals that the price could either break out or break down.  At the time of writing, Stellar’s price was $0.2786, reflecting a modest increase of 0.11%. With market sentiment still uncertain, traders are watching closely to see whether XLM will hold its support or continue to decline. XLM’s current chart setup shows a descending triangle, a formation often associated with continuation patterns or breakouts. The Relative Strength Index (RSI) sat at 39.61, indicating that Stellar was neither overbought nor oversold. This neutral reading suggested that a significant price move could be on the horizon.  Additionally, the Bollinger Bands were tightening around the price, signaling that volatility may increase soon. Therefore, a breakout could occur, but traders must wait for confirmation on the price’s next direction. Source: TradingView How Stellar’s social metrics affected market sentiment XLM’s social metrics are relatively low, with a Social Volume of just 15 and Social Dominance of 0.33%. These numbers suggest that Stellar has little social engagement at the moment, pointing to weak market sentiment.  The low social activity may reflect a lack of conviction among traders, contributing to the current price consolidation. However, this could also mean that when a breakout does happen, it could be more volatile, as less market attention may lead to faster price shifts.  Source: Santiment What does XLM’s liquidation data reveal about the market? XLM’s liquidation data reveals a notable trend in long vs. short positions. At the time of writing, $12.24K in short positions have been liquidated, compared to 8.6K long positions. This indicates that traders who…

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Filed under: News - @ March 9, 2025 11:08 pm