The post Stellar [XLM] Faces Potential Short-Term Pullback to $0.463 Amid Increased Trading Volume and Liquidation Risks appeared on BitcoinEthereumNews.com.

The recent price dynamics of Stellar (XLM) indicate potential bearish momentum, with key support levels identified at $0.463 and $0.4. XLM experienced a significant 608% rally within a three-week window, pushing its market capitalization to approximately $14.3 billion despite a subsequent drop. According to COINOTAG, “XLM’s momentum is being challenged as it enters a retracement phase, which may lead traders to reassess their positions.” This article explores the recent performance and future outlook of Stellar (XLM), highlighting key price levels and market dynamics as of November 2024. XLM Demand Soars Amid Market Volatility The strong demand for Stellar (XLM) was reflected in its trading volume, which surged to $2.8 billion last Sunday. This rapid increase indicates heightened interest among traders as XLM enjoyed a considerable price rally. Over the span of just 20 days, the digital asset skyrocketed by a remarkable 608%, climbing from critical low levels earlier this month. Despite this impressive climb, XLM remains vulnerable as it retraces toward significant Fibonacci support levels. Notably, its all-time high of $0.8756, achieved in January 2018, seems increasingly distant amidst the current market corrections. Market Indicators Signal Potential Pullback Even as the Chaikin Money Flow (CMF) metric reached +0.17—a sign of persistent capital inflow—the Money Flow Index (MFI) has not yet indicated bearish divergence. However, analysts predict potential downward movements as XLM approaches critical support zones, likely pulling back toward $0.363 or lower if the current bearish trend strengthens. Long Liquidations Could Pressure XLM Prices The liquidation levels present a noteworthy risk factor as the market navigates these volatile conditions. Observations from a recent liquidation map suggest clusters around the $0.463-$0.473 zone could prompt price adjustments. The larger volume of long liquidations in this area indicates increasing selling pressure, potentially driving XLM lower as traders react to market shifts. Price Projections…

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Filed under: News - @ November 29, 2024 4:12 am