📉 Stellar [XLM] has dropped over 11% in the past week, now trading around $0.2799 after peaking at $0.3344. The altcoin’s price is stuck in a descending channel, and analysts are warning of a potential drop to $0.23.
⚠️ According to Ali Martinez, $0.27 is the key support. A breakdown below this level could push XLM down to $0.23. The charts back this up, showing strong bearish pressure.
📉 Open Interest has dropped from $49M to $38M in just 6 days — a clear sign that traders are exiting the market. At the same time, funding rates have turned negative, showing most new positions are short.
📊 RSI is also falling, sitting at 48 with a bearish crossover in play. Traders have sold over 82 million XLM in the last 24 hours, with a negative delta of -15.6M confirming bear dominance.
🔻 If XLM loses $0.27, the next supports are $0.263 and $0.252. While a drop to $0.23 isn’t immediate, sustained pressure could take it there. For a reversal, XLM must hold above $0.27.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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