XLM’s $0.35 Stalemate: Leap or Lapse? 🚀💸

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TL;DR

  • XLM, the stoic knight, stands resolute at $0.35, defying the chaos of the market, yet whispers of a $0.50 leap echo like a cursed prophecy.
  • The MACD and RSI, two weary soldiers, signal dwindling strength, their banners of bullish hope fraying under the weight of bearish gloom.
  • XLM futures’ open interest, once a roaring fire, now flickers like a dying candle, as traders retreat to their caves, clutching their coins like talismans.

XLM: The $0.35 Impasse

Stellar (XLM) teeters at $0.36, a tragic figure having fallen 7% in 24 hours, a performance so lackluster it would make a drowsy sloth blush. Over the past week, it’s slumped 5%, a descent so deliberate it feels like a slow-motion assassination. The price hovers just above the $0.35 threshold, a fortress of buying interest that has, in the past, repelled hordes of bears with the might of a thousand memes.

Crypto prophet Ali Martinez, whose predictions are as reliable as a Russian roulette spin, declared,

“Stellar $XLM dipped to $0.35 as expected. If this level holds, consolidation toward the triangle’s apex could set up a breakout to $0.50.”

The $0.35 zone, a relic of past battles, now serves as a battleground for traders who’ve forgotten the meaning of “sell.”

Observe the 12-hour chart, a descending triangle, a dance of shadows and light that has been unfolding for weeks. XLM is now near the lower support boundary, a point where the price has shown remarkable resilience, as if the market itself is holding its breath, waiting for the next act of this tragicomedy.

If the support holds, the pattern suggests a coiling serpent, poised to strike. The Fibonacci levels, those ancient oracle stones, whisper of resistance at $0.4, $0.42, and $0.44. Should the breakout succeed, XLM might ascend to $0.50-a dream as fleeting as a Soviet utopia. But should it fall below $0.35, the price may plunge into the $0.34-$0.33 abyss, a realm where even bears hesitate to tread.

Indicators: The Silent Scapegoats

The daily chart reveals the MACD, a weary general, its line below the signal line, both entrenched in negative territory. The histogram, a red tide of despair, widens, a testament to the growing selling pressure. The RSI, now at 39, a number so low it could make a monk weep, signals sellers’ dominance. Though not yet in oversold territory, it hovers near the edge of a cliff, where buyers once rallied like a desperate mob.

CoinGlass reports that XLM futures’ open interest surged in late October, peaking above $500 million during a brief flirtation with $0.60. Since then, it has dwindled, mirroring the price’s descent. A decline so steep it could rival the fall of the Berlin Wall, but with fewer fireworks.

The drop in open interest, a ghostly specter, suggests leveraged positions are retreating, their owners cowering in fear. Such cooling periods, common after wild speculation, are as predictable as a Soviet election-yet no less absurd.

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2025-09-23 07:15