Possibility for XLM price to break the critical resistance of $0.361 and upside potential

• XLM is on the verge of a critical breakout to break the $0.361 resistance level and start a new bullish period.

• Investors are currently at an important crossroads; Overleveraged trades are seen at lower support at $0.339 and upper resistance at $0.361.

• According to COINOTAG, “XLM’s open interest (OI) rose 18% in just 24 hours, indicating a remarkable shift in trader sentiment.”

This article discusses in detail XLM’s key price levels and extremely strong momentum as the cryptocurrency aims to take advantage of new uptrends by overcoming significant resistance.

Technical Dynamics and Price Action Overview of XLM

The latest analysis shows XLM on the daily chart descending triangle pattern He reveals that this situation can be an announcement of important price movements. As XLM enters a consolidation phase, traders are watching for a breach of this pattern, which could indicate a potential uptrend.

One bullish pin bar candlestick Since the formation is forming near the support level, it indicates the possibility of a reversal. Whether XLM can break through and close above the $0.371 level, analysts will see approx %62 foresees a price increase; This has a target to reach $0.60 in the short term.

Source: TradingView

Trading above the 200-day exponential moving average (EMA) on the daily chart confirms that XLM is in an overall uptrend; This prompts investors to closely monitor the critical resistance level.

Open interest and areas of strategic liquidation

The latest data provided by Coinglass shows that the opening price of XLM has increased in the last 24 hours. %18 increased, highlighting a significant change in traders’ sentiment. This increase indicates that traders are showing increasing interest in the Stellar market by opening new positions.

Significant liquidation thresholds appear to be emerging, particularly at $0.339 and $0.361. The significant excess leverage seen at these levels creates critical points of interest for investors looking to manage risk.

Source: Coinglass

The current market situation shows that traders are opening equal amounts of long and short positions at these critical levels. If the price of XLM moves towards liquidation levels, approximately $3.12 million worth of positions could be liquidated; This can increase market volatility.

Overall, sentiment for XLM remains cautiously optimistic; The price needs to break the $0.361 level for significant upside momentum.

Conclusion

In short, XLM’s performance is gaining momentum ahead of possible breakout levels and this is becoming a focus for investors. While a break of the $0.361 resistance could pave the way for a significant price rally, current trading activity indicates an increasingly engaged market. Therefore, monitoring these critical levels and market dynamics will be extremely important to successfully navigate the next chapter of XLM.