- XLM forms a head and shoulders pattern, signaling a potential breakout.
- Traders and long-term holders show confidence, with $3.05 million accumulated in 24 hours.
- A 30% price rise to $0.60 is possible if XLM breaks key resistance
Stellar—XLM, is poised for a big jump. The price chart shows positive signals. After a rough December, the altcoin is gaining momentum. With the larger cryptocurrency market on the rise, other assets like XRP and DOGE are also showing growth. So, why is XLM heading higher? Let’s dive into the factors driving this potential 30% rally.
XLM’s Bullish Outlook: Key Technical Factors
XLM is forming a bullish head and shoulders pattern on the daily chart. This usually signals a breakout. The key level to watch is $0.456, which has acted as resistance since December. If XLM manages to close a daily candle above $0.47, expect a 30% rally, potentially reaching $0.60.
This pattern, combined with improving market sentiment, sets the stage for a possible surge. Political events and other factors could further support this trend. If the price stays above $0.47, the path to $0.60 looks increasingly likely.
Strong Interest from Traders and Long-Term Holders
Both long-term holders and traders are showing confidence in XLM. Over the past 24 hours, long-term holders accumulated $3.05 million worth of tokens. This signals strong belief in the token’s potential. Traders have also increased their positions, with Open Interest rising by 27%.
The current long/short ratio of 1.13 shows more traders are betting on XLM’s rise. With 53.21% of top traders holding long positions, the market sentiment is clearly bullish. If the trend continues, a significant price increase is on the horizon.
XLM’s bullish pattern, combined with strong market interest, sets up a potential 30% surge. If key resistance levels break and market sentiment stays positive, expect a major move. Keep an eye on XLM as 2025 unfolds.
