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Can Stellar [XLM] hit $0.60? Assessing key levels

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XLM must break above the critical $0.361 resistance level to unlock its next leg of upside momentum.
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Can Stellar [XLM] hit $0.60? Assessing key levels
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  • At press time, traders were over-leveraged at $0.339 on the lower side and $0.361 on the upper side.
  • XLM’s Open Interest (OI) had surged by 18% in the past 24 hours.

Stellar [XLM] seemed to be gaining attention from traders and investors due to its impressive performance over the past 24 hours.

The potential reason for XLM’s strong performance today could be its price action and support from traders.

At press time, XLM was trading near $0.355 after a price rally of over 8.5% in the past 24 hours. The asset’s trading volume highlighted increased interest from investors and traders, as it jumped by 55%.

XLM technical analysis and upcoming levels 

According to AMBCrypto’s technical analysis, XLM had formed a descending triangle pattern on the daily time frame. The price appears poised to breach this pattern as it has entered a narrow consolidation zone.

Additionally, the altcoin had formed a bullish pin bar candlestick pattern near the bottom of the support level, signaling a potential price reversal.

XLM technical analysis

Source: TradingView

Recent price action and historical momentum suggests that if XLM breaks out of this pattern and closes a daily candle above the $0.371 mark, there is a strong possibility it could surge by 62%, reaching the $0.60 level in the coming days.

Currently, the asset is trading above the 200 Exponential Moving Average (EMA) on the daily time frame, indicating that XLM remains in an uptrend.

Rising OI and major liquidation areas

Data from the on-chain analytics firm Coinglass revealed that XLM’s Open Interest (OI) surged by 18% in the past 24 hours. This showed that traders were forming new positions, as sentiment around XLM began to shift.

At press time, major liquidation areas were near $0.339 on the lower side and $0.361 on the upper side, with traders over-leveraged at these levels, per Coinglass.

XLM’s major liquidation areas

Source: Coinglass

Read Stellar’s [XLM] Price Prediction 2025–2026

Also, traders appeared to have formed an equal number of long and short positions at these levels. If the XLM price moves to these levels, $3.12 million worth of short and long positions could be liquidated.

Thus, sentiment for XLM was bullish, but the price needs to breach the $0.361 mark to witness significant upside momentum.

 

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Vivaan Acharya Journalist at AMBCrypto is a Mumbai-based crypto journalist with five years of real-world experience covering technology and finance. With a Master’s in Economics from the University of Delhi, he cut his teeth at a major financial daily where he honed his skills in data analysis and technical chart analysis while decoding market trends and corporate earnings. In 2018, Vivaan pivoted to the cryptocurrency space, authoring a thesis on "Payments and Stablecoin Integration in Banking" that set the stage for his deep dives into Bitcoin market analysis, Altcoin analysis, stable coin ecosystem development analysis, and studies of emerging crypto regulations. Known for his clear, no-nonsense approach, Vivaan blends robust research with straightforward explanations to demystify complex blockchain topics. His analytical insights empower readers to confidently navigate the fast-evolving digital finance landscape.
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