The post Stellar (XLM) Sees 70% Weekly Spike—Will $130M OI Drop Stall? appeared on BitcoinEthereumNews.com.

Stellar XLM’s Relative Strength Index (RSI) of 55.31 suggests moderate bullish momentum, with room for further upside if buyers maintain control. Stellar has already rallied 2,312% from its cycle low, with analysts like Egrag predicting another 850% rise to $2.27. Stellar’s native cryptocurrency XLM has witnessed a mega rally surging over 470% on the monthly chart and now entering the top 15 crypto-list with a market cap of $16.38 billion, reported CNF. As of press time, the XLM price is trading 12.23% up at $0.5367 with a market cap of $16.16 billion and the daily trading volume surging 20% to $3.10 billion. The XLM price is once again attempting a breakout from last week’s high of $0.60, spurred by the recent bounce back in the Bitcoin price, moving again to $100K levels. As of now, the Stellar (XLM) open interest has surged 25.76% in the last 24 hours, hitting a record high of $371 million with more than $2.75 million in liquidations in the last 24 hours. The short liquidations have surged to $1.8 million, while the long liquidations stand at $961K, per the Coinglass data. Stellar’s (XLM) price is facing immediate resistance at $0.5408, corresponding to the 23.6% Fibonacci retracement level. A successful breakout above this threshold could pave the way for further gains, with targets set at $0.5871 and $0.6361. On the downside, key support levels include $0.4814, followed by the 50-day EMA at $0.4385 and $0.4333. Source: TradingView The Relative Strength Index (RSI) stands at 55.31, indicating moderate bullish momentum. This suggests room for potential upside if buyers regain control and push the price above critical resistance levels. Stellar’s all-time high of $0.8756 was recorded in January 2018. According to Fibonacci extension levels, the next long-term bullish targets are projected at $0.766 and $0.975. XLM Demands Jumps,…

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Filed under: News - @ November 30, 2024 3:24 am