- XLM surged 10.34% after breaking an inverse head-and-shoulders pattern, with a potential target of $0.39.
- Open interest spiked 24%, and funding rates turned positive, signaling growing confidence in long-term positions.
After an 8-month price slump, Stellar [XLM] has staged a notable recovery, climbing from a local low of $0.258** to a monthly high of **$0.305. As of this analysis, XLM trades at $0.3008, with a 10.34% daily gain, reigniting bullish sentiment—especially in derivatives markets.
Trading volume skyrocketed 214.09% to $362 million**, while futures open interest rose **24%** to **$183.7 million. Analysts like Ali Martinez suggest XLM could rally to $0.39, citing the inverse head-and-shoulders breakout—a classic reversal pattern.
Is Stellar Primed for Another Rally?
Ambcrypto’s data highlights strong momentum:
- RSI jumped to 66.45, with its MA steady at 54, confirming buyer dominance.
- MACD bullish crossover (value: 30.43) reinforces upward strength.
- Futures CVD shows taker buy ratios leading, indicating strategic long positions.
Weekly charts reveal absent seller pressure, aligning with shifting market sentiment.
Derivatives Traders Shift to Long-Term Bullishness
- Positive funding rates across exchanges reflect renewed investor confidence.
- Buyers control futures markets, underscoring XLM’s bullish trajectory.
👉 Discover how to leverage bullish trends in crypto
Key Levels to Watch
- Upside target: $0.34 resistance (breakout could trigger further gains).
- Downside risk: Profit-taking may pull XLM back to $0.281** or **$0.25.
FAQ
Q: What’s driving XLM’s sudden surge?
A: A combination of technical breakout (inverse head-and-shoulders), rising open interest, and positive funding rates.
Q: Is $0.39 a realistic target for XLM?
A: Yes, if bullish momentum sustains and $0.34 resistance breaks.
Q: Could XLM drop again?
A: Short-term pullbacks to $0.25 are possible if holders exit break-even positions.
Q: How reliable is the RSI signal?
A: An RSI above 66 with stable MA suggests strong buying pressure, but overbought conditions may follow.
With buyers in control and derivatives data supportive, XLM’s upward potential remains compelling.