Stellar (XLM) Shatters Records: Open Interest Skyrockets to ATH as Price Surges 78%
Stellar's XLM isn't just climbing—it's rewriting the playbook. Open interest just hit an all-time high, and traders are scrambling to catch the 78% price rocket. Here's why the smart money's paying attention.
### The Liquidity Tsunami
Derivatives markets are flashing green as XLM's open interest smashes through previous ceilings. No slow-and-steady here—this is a full-blown capital stampede.
### The 78% Factor
Price doesn't lie. That triple-digit percentage gain turned XLM from wallflower to prom king overnight. Even the usual 'buy the rumor, sell the news' crowd got caught offsides.
### The Cynic's Corner
Let's be real—half these positions will unravel faster than a DeFi protocol audit when the next Fed chair sneezes. But for now? Enjoy the dopamine hit while it lasts.
Stellar Traders Are Highly Bullish.
Stellar’s futures market activity has surged, with Futures Open Interest hitting an all-time high of $520 million in the last 24 hours. This indicates that traders are increasingly interested in the asset’s derivatives, which are capitalizing on its rise.
The surge in Futures Open Interest reflects strong market confidence, with traders betting on further price increases. The high open interest also signals that traders believe XLM is on a clear uptrend. With long contracts surpassing short positions, the sentiment is skewed positively, providing an environment conducive to further growth.
XLM’s macro momentum is strengthening, as indicated by the ADX (Average Directional Index) sitting at 28.39. This value shows that the uptrend in XLM’s price is gaining strength and has surpassed the 25.0 threshold, a key level for confirming the trend’s strength. The current ADX reading also marks a six-month high, signifying the rarity and strength of the uptrend for Stellar.
With the ADX above 25.0, it suggests that XLM is in the midst of a strong directional move. Historically, such levels have been associated with significant price movements, making this a critical indicator for traders.
XLM Price Can Make It To $0.50
XLM is currently trading at $0.46, up 78.5% over the past week. However, the altcoin faces resistance at $0.47, a level it has struggled to breach in recent days. The ability to break this resistance is crucial for continued growth, as it will determine whether XLM can push higher.
Given the strong sentiment of future traders and the technical indicators, it is likely that XLM will push past the $0.47 resistance and target $0.50 in the coming days. A successful breakthrough could lead XLM toward its next target at $0.56, marking an eight-month high. This WOULD signify continued strength for the asset.
However, if the broader market sentiment shifts or investors begin to sell their holdings, XLM could face a significant pullback. If the price falls below the key support levels of $0.43 and $0.41, it could slide further to $0.35, which would invalidate the current bullish outlook.
