Stellar (XLM) made a spectacular rally 78% in a week and reached the maximum level from the beginning of the year. This leap attracted the record attention of investors.
The recent successes of Stellar (XLM) strengthened its position in the market, attracting the interest of both retail and institutional investors.
Stellar traders are optimistic
STELLAR futures have increased sharply in the futures market. Open interest in futures has reached a record $ 520 million in the last 24 hours. This shows that traders are increasingly interested in the derivatives of the asset, benefiting from its height.
The growth of open interest in futures reflects the confidence of the market, as traders make bets on further prices. The predominance of long contracts over short indicates a positive attitude, creating favorable conditions for further growth.
The ADX index for token is now 28.39. This means that Stellar growth is gaining strength and exceeded the threshold of 25.0, confirming the strength of the rising trend. When ADX exceeds 25, this indicates a strong movement of XLM. Historically, such levels were accompanied by significant price changes. The current ADX value is also a six -month maximum.
The price of XLM can reach $ 0.50
The price of XLM has increased by 78+% in the last week. However, she is faced with a resistance of $ 0.47, which has not yet been overcome. The breakthrough of this level is important for further growth, he will determine whether the XLM can advance above.
Positive moods of traders and technical indicators can help XLM overcome the resistance by $ 0.47 in the coming days. This will aim the token by $ 0.50. A successful breakthrough can lead to Stellar to the next purpose of $ 0.56. This will become an eight -month maximum and confirm the power of the asset.
If the mood in the market changes or investors begin to sell, XLM can fall significantly. If the price drops below the key support levels of $ 0.43 and $ 0.41, it can decrease to $ 0.35. This will cancel the current optimistic forecast.
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Source: Cryptocurrency
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