- Ah! The metrics of the chain, they do prance with steady growth in TVL and network accounts, whilst the Long-Short Ratio rises like a soufflé, indicating that long-term investors are not easily swayed by the fickle winds of price fluctuations.
- In spite of the gloomy clouds of short-term bearish sentiment, our brave XLM HODLers remain ever optimistic, like a jester in a court of kings!
Lo and behold! Stellar [XLM] is a curious creature, flashing mixed signals as it finds itself snugly wrapped within a bullish flag on the daily chart, like a fine pastry in a baker’s oven. 🍰
As we speak, XLM trades at a modest $0.3410, having taken a slight tumble of 0.5%, while the trading volume has plummeted by 10.61%. Oh, the drama! 🎭
With a steady growth in the network and total value locked since late 2024, this price consolidation may very well lead to a breakout above the bullish flag, or perhaps a tragic fall—who can say? 🤷♂️
XLM’s technical setup
Our dear XLM finds itself within a bull flag, a potential continuation of its previous bullish momentum, like a hero preparing for the next act of a grand play.
Yet, it faces resistance in the $0.35-$0.40 zone, leading to a price consolidation, while the $0.28-$0.30 zone serves as its humble abode of support.
According to the wise Solberg Invest on X (formerly Twitter), should XLM encounter a surge of buying pressure, this consolidation could indeed lead to a breakout above the $0.40 resistance, aiming for the illustrious $0.51, a former stronghold! 🏰
On-chain metrics and market sentiment suggest…
Alas! XLM is beset by a short-term bearish sentiment, as price volatility dances about, failing to confirm its uptrend momentum. A tragic comedy, indeed!
However, the on-chain data reveals a steady growth in network accounts and Total Value Locked since late 2024, like a garden flourishing in spring. 🌼
The EMA 200, resting at $0.2428, lies below the current price, signaling the altcoin’s long-term strength, as per the wise sages of TradingView.
Moreover, the 24-hour Long-Short Ratio stands at 2.31, having grown to 2.41 in the 4-hour timeframe, indicating that investors are indeed buying XLM, as we speak! 📈
What’s next for XLM?
Our monthly oscillator summary of major indicators signals a buy, despite a 2.63% decrease in Open Interest in the last 24 hours, according to the oracle known as Coinalyze.
At this very moment, the RSI stands at 44.93, having grown to 53.15 in the 4-hour timeframe, hinting at potential accumulation, like a treasure chest waiting to be opened! 💎
A breakout above the bullish flag, with strong buying pressure in the coming days, could indeed propel XLM’s momentum toward the coveted $0.51. But beware! Should it fail to breach the $0.40 resistance, further consolidation in the $0.28-$0.35 zone may ensue. One must keep a keen eye on the altcoin’s buying pressure, trading volume, and price action within its bullish flag, lest we miss the grand finale! 🎉
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2025-02-22 06:19