- XLM is consolidating in a tight range, hinting at a possible breakout.
- Resistance is building near $0.2479, with support around $0.225–$0.23.
- Narrowing Bollinger Bands suggest a volatility spike is likely.
- Open interest is rising as traders position for a potential move.
Stellar (XLM) is showing breakout and consolidation signs, and technical and liquidity charts are identifying key prices. During the past 24 hours, XLM also preserved a confined trading channel and upside and downside liquidation regions are showing future volatility prospects.
XLM Faces Liquidity Wall at $0.2479
Based on the Binance XLM/USDT 24-hour liquidation heatmap, noteworthy clusters of liquidity are found around and above the spot price, notably around $0.24 to $0.2479. Such regions are shaded in yellow and green on the heatmap and represent liquidation density of as much as ~98.97K contracts and are thus possible resistance areas.
There is also visible liquidation pressure around $0.225–$0.23 on the downside, and this could serve as a support area if it dips further. Such highly condensed liquidity spots tend to attract price action because stop-losses are triggered by market makers and traders at such spots in anticipation of volatility.
Hence, an explosive breakout on the upside beyond $0.2479 or on the downside below $0.225 could generate a steep move driven by liquidations.
XLM Tightens Range, Breakout Looms
In the 4-hour chart of a candlestick, the token is trading at $0.23787 after having marked a weak intraday gain of approximately +0.39%. Bollinger Bands identify upper band resistance of $0.24610, lower band support of $0.23202, and middle band of $0.23906 and are tightening, a bullish indication that volatility is gathering and the token is heading for a breakout shortly.
Relative Strength Index (RSI) is at 49.57, slightly below the neutral 50 midpoint figure signalling market indecision but neither overbought nor oversold conditions dominate. Also, on the Moving Average Convergence Divergence (MACD) indicator, a weak bullish signal is evident with the MACD line at 0.00019 just above the signal line at 0.00050.
Also Read: XLM Price Prediction: Breakout Imminent as Bulls Eye $0.485 Resistance
XLM Sees Open Interest Uptick Amid Flat Price
Visualizing the two-year historical chart of the token’s price, open interest, and volume shows XLM experienced huge spikes throughout the end of 2023 and early 2024, with highs of prices around $0.70 and highest open interest (blue area) of well over 436.6M contracts.
Both price and open interest are currently lower than at those highs but recent data reveals open interest rising to around 21.98M contracts whilst the price is ranging in a $0.23–$0.24 region. That would suggest traders are actively setting positions for a directional breakout.
Also Read: XLM Price Prediction: Could Stellar Reach $1 Sooner Than Expected?
