This Is the Next Short-Term Key Zone
Stellar [XLM] is up 608% in just 21 days.
Journalist
Posted:
Share this article
- The daily XLM trading volume had exceeded $2.8 billion last Sunday.
- The token may be entering a correction phase.
Stellar [XLM] was 25% below the local highs it reached last weekend. Despite this drop, the token is still 390.5% higher than it was three weeks ago, driven by Bitcoin [BTC]’s price surge.
Stellar’s all-time high is $0.8756, reached in January 2018. The Fibonacci extension levels outline $0.766 to $0.975 as potential long-term bullish targets.
However, the altcoin is entering a correction phase and could fall to $0.363 or lower.
XLM demand continues to soar
These returns are remarkable for an asset with a market cap of $14.3 billion. The rate of growth has been extraordinary. p >
CMF currently sits at +0.17 and has been above +0.15 since November 6th; another important indicator as values above +0.05 signify considerable capital inflows.
Trading volume has also surged, reaching a peak of $2.83 billion on Sunday.
On the daily chart, the Money Flow Index does not yet reveal any bearish divergence; however MFI may decline as XLM nears critical Fibonacci support levels due to this week’s pullback.
Pricing might be affected by significant liquidations
|
Liq |
||||||
|---|---|---|---|---|---|---|
|
–> Data from liquidation maps display clusters around prices between $0 .46 -$ .473
|
These long liquidations outnumber nearby short liquidation clusters.
|
It suggests that it’s likely for XLM’s value to decrease toward –>
$support level:$ . | ||||
