XLMUSDT 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.XLMUSDT futures market activity has also 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.Given the strong sentiment from futures traders and the technical indicators, it is likely that
XLMUSDT 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,
XLMUSDT 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.
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.