XLM Technical Analysis and Price Action
XLM, the native token of Stellar, has been attracting significant attention from traders and investors as it nears a notable price decline. In late February and early March 2025, the asset formed a bearish rising wedge pattern during its recent upward movement.
XLM Price Prediction
Expert technical analysis suggests that XLM is currently at a critical level of $0.285. This level is seen as a make-or-break point for the asset. If XLM fails to hold above $0.28 and closes a four-hour candle below this level, there is a strong possibility that it could drop by 15% to reach $0.236 in the near future.
However, if market sentiment shifts and XLM’s price surges, closing a daily candle above $0.31 could lead to a significant upward rally. The daily chart indicates that XLM is in an uptrend, trading above the 200 Exponential Moving Average (EMA) on the daily timeframe.
XLM’s Current Price Momentum
At the moment, XLM is trading around $0.286, showing a 1% increase in the past 24 hours. Despite this price surge, trading volume has decreased by 10%, suggesting lower participation from traders and investors due to uncertain market sentiment.
Traders Bearish View
With the current bearish price action and market sentiment, traders are leaning towards short positions. Data from the on-chain analytics firm Coinglass reveals that traders are over-leveraged at $0.28 and $0.297, with significant long and short positions built at these levels.
Overall, sentiment towards XLM remains bearish among traders, indicating a potential downward pressure on the asset in the days ahead.