Ripple rival Stellar Lumen (XLM) is ready for a huge upward momentum because it has formed a bullish price action pattern on the daily period and now receives considerable attention from traders and investors. On March 19, 2025, when sentiment about the crypto landscape shifts broke the resistance of the 200 exponential advancing average (EMA) on the daily period.
Why does the XLM price increase?
This outbreak of the resistance level and the shift in sentiment began after the United States Securities and Exchange Commission (SEC) has dropped its lawsuit against Ripple Labs.
XLM currently acts almost $ 0.29 and has risen by more than 11% in the last 24 hours. This price jump suggests that he reflects the upward momentum of his rival. In the meantime, the trading volume has increased by 135% in the same period, indicating the increased participation of traders and investors after the end of the legal battle.
XLM -Price analysis and upcoming levels
Since November 2024, XLM has been on a downward route and forms a falling wig price pattern on the daily period. With the recent price jump, however, it is actively approaching the breakout area.
Based on his recent price action and historical patterns, if XLM closes a daily candle above the level of $ 0.29, there is a strong possibility that it could initially rise by 30% to reach $ 0.37 in the coming days. In addition, if XLM supports this rally and closes a daily candle above $ 0.35, it can witness an increase of 40%, which reaches $ 0.488.
XLMs Overhef levels
With this positive development and bullish price promotion, traders started betting on the long side, as reported by the on-chain analysis company Coinglass.
Data shows that traders are currently being used too much at $ 0.2725 at the bottom, where bulls have built $ 5 million in long positions, while $ 0.3025 is a different over -lifting level where bears have $ 2.20 million in short positions.
When combining this on-chain statistics with technical analysis, it seems that bulls are back and it will be active in recovering his all time in the coming days.