Journalist
Posted:
- On-chain statistics showed steady growth in TVL and network accounts as the long-term ratio increased, which indicates long-term investors despite price fluctuations.
- Despite a general Bearish market sentiment in the short term, XLM Hodlers showed a positive sentiment from investors.
Stellar [XLM] Mixed signals flashes while the price consolidated in a bullish flag on the daily graph.
At the time of the press, XLM was traded at $ 0.3410, after falling 0.5% in price, while trade volume fell by 10.61%.
After a steady network growth and total value that has been locked to date at the end of 2024, the price consolidation can lead to an outbreak above this bullish flag.
XLM’s technical setup
XLM exchanges in a bull flag that could be a continuation pattern of his earlier Bullish Momentum.
The Altcoin is confronted with resistance at the $ 0.35- $ 0.40 key zone, which leads to a price consolidation, since the $ 0.28- $ 0.30 zone becomes support.
According to Solberg Invest On X (formerly Twitter), if XLM is confronted with a high purchasing pressure, consolidation can lead to a breakthrough above the $ 0.40 key resistance level aimed at the $ 0.51, an earlier resistance level.
Source: X
On-chain statistics and market sentiment suggest …
XLM is confronted with a short -term Bearish market sentiment based on price volatility, so that the Uptrend Momentum is not confirmed.
However, data on chains shows steady growth in network accounts and the total value that has been locked since the end of 2024.
Source: Defillama
The EMA 200 for $ 0.2428, which is below the current price, indicates the long -term strength of Altcoin based on TradingView -Data.
In addition, the 24-hour long-short ratio was 2.31 and it has grown to 2.41 in the 4-hour period of time shed which shows that investors have bought XLM on the press.
Source: Coinalyze
What is the next step for XLM?
XLM’s monthly Oscillator -summary of important indicators gives a purchase despite a 2.63% decrease in the open interest in the last 24 hours, according to Coinyze facts.
At the time of writing, the RSI was 44.93 and grew to 53.15 in the 4 -hour period, which shows potential accumulation.
An outbreak above the bullish flag with a strong buying pressure in the coming days can stimulate the uptrend momentum from XLM to $ 0.51.
Failure to confirm a break over the $ 0.40 resistance can, however, lead to further consolidation in the $ 0.28- $ 0.35 zone. One must view the purchasing pressure, trade volume and price action of the Altcoin within his bullish flag.
