Stellar: XLM rises over 11%, market sentiment shifts to bullish

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CryptoWorld News reports that Stellar's XLM attracted new buying interest on Tuesday.
After a strong rally earlier in the week, XLM has gained over 11%, approaching a key resistance level.
Factors supporting this upward movement include improvements in derivatives and on-chain indicators, rising open interest, increased trading volume, and positive funding rates, all indicating increased market participation and bullish sentiment.
According to CryptoWorld News data, XLM's open interest has risen to $261 million, typically seen as a sign of new capital entering the market.
Funding rates are also skewed toward long positions, with XLM's funding rate reaching 0.0061% on Tuesday.
On-chain activity further supports the bullish outlook; Santiment's data shows Stellar's trading volume has surged from $153 million in recent days to $879 million.
XLM's current trading price is approximately $0.227, staying above a key support zone, with the 61.8% Fibonacci retracement near $0.200 and the 200-day EMA at $0.199.
If the rally continues, $0.237 will be a direct resistance level; if a bearish trend resumes, the psychological support at $0.200 is crucial.
XLM-2.66%
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AirdropDreamsInAGlassBottle
· 3h ago
On-chain data improvement + funding rate turning positive, longs are indeed working, but derivatives make up a high proportion, watch out for pin risk.
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MintConditionMax
· 3h ago
61.8% retracement and 200 EMA almost overlap; technical traders should watch this level closely. Falling below it would be uncomfortable.
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MirrorBallPeeking
· 3h ago
XLM's recent volume breakout is promising, with the 0.2 support holding quite steady. Let's see if it can break through 0.237.
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