- Oh dear! XLM has taken a tumble, dropping a cheeky 1.67% in just one day, while Open Interest decided to play hide and seek, falling 6.6%. And guess what? Derivatives volume plummeted a staggering 62.7% to a mere $97 million! 🎢
- And lo and behold, a ‘death cross’ has appeared, as the 9-day DSMA crossed below the 21-day DSMA, confirming that the bears are having a jolly good time! 🐻
Just a fortnight ago, Stellar [XLM] was strutting its stuff at a local high of $0.33, but now it’s sulking at $0.28. What a fall from grace! 😱
This daily dip of 1.67% has been accompanied by a rather gloomy derivatives market, raising eyebrows and fresh concerns over demand. Is anyone even buying? 🤔
Volume has taken a nosedive, dropping by 62.7% to $97 million, while Open Interest has also decided to join the party, down by 6.6% to a low of $160 million. Oh, the drama! 🎭
Such a sharp pullback is like a big red flag, signaling that both speculators and investors are playing hard to get. Where have they all gone? 🕵️♂️
Our dear analyst, Ali Martinez, has spotted this structural weakness and is waving a caution flag, warning of a potential breakdown. Hold onto your hats, folks! 🎩
According to him, XLM might be exiting an ascending channel, which is usually a sign that the trend is as tired as a sleepy sloth. 🦥
And the spot markets? Oh, they’re just reinforcing the bearish tone like a grumpy old man! Seller dominance is as clear as day, with XLM sellers offloading 21.95 million tokens while buyers only managed to snag 21.64 million. That’s a negative Delta of 313.2k! Yikes! 📉
This indicates that selling pressure is stronger than a bull in a china shop! 🐂💥
Martinez has suggested that this bearish trend could lead our poor altcoin to drop to $0.26. Will it survive? Only time will tell! ⏳
According to AMBCrypto’s analysis, XLM has flashed a ‘death cross’ on the daily chart. Oh, the horror! 😱
The 9-day DSMA has slipped below the 21-day DSMA—an often-reliable short-term bearish trigger. It’s like a bad omen! ☠️
With current market prices lounging below both MAs, the downward momentum could persist unless the market decides to reclaim a price above $0.291. Come on, XLM, you can do it! 💪
So, if the current selling pressure continues to stomp around, the altcoin will find its next support around $0.2653. Will it hold? 🤷♂️
To invalidate this bearish move, XLM needs a daily close above $0.29. If the bulls fail to push the altcoin above this level, we could see XLM making even more losses. Oh, the suspense! 🎢
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2025-05-25 17:14