Stellar [XLM] Soars 608% in 21 Days – Uncover the Next Key Zone!

"Stellar [XLM] Jumps 608% in 21 Days - Find the Next Key Zone!"

Stellar (XLM) is down 25% from recent highs but up 390.5% in three weeks; potential retracement to $0.46 expected due to liquidations.

Rachel Patel29 November 2024Last Update : 1 week ago

Stellar [XLM] up 608% in 21 days - THIS is the next key short-term zone

ambcrypto.com

On November 29, 2024, Stellar (XLM) experienced a significant price fluctuation, currently 25% lower than its recent highs. Despite this decline, XLM remains 390.5% higher than its value three weeks ago, largely driven by Bitcoin’s bullish performance.

6 Key Takeaways

Stellar [XLM] down 25% from recent highs
All-time high for XLM: $0.8756
XLM rallied 608% in 20 days
Long liquidations may push prices lower
Key support levels around $0.46-$0.473
Disclaimer: Not financial advice

Fast Answer: Stellar (XLM) is currently trading 25% lower than its recent highs but remains 390.5% higher than three weeks ago. The token’s all-time high is $0.8756, while potential support levels are identified around $0.363 and $0.46.

Stellar has shown remarkable growth over the past month, rising 608% from its lows on November 4 to its peak on November 24. The market capitalization of Stellar is currently estimated at $14.3 billion, indicating strong investor interest. Trading volume surged to $2.83 billion at its peak, reflecting heightened activity in the market.

Technical indicators suggest that XLM is entering a retracement phase, with potential price support levels identified at $0.363 and $0.46. The current Money Flow Index (MFI) has not yet indicated a bearish divergence, but a pullback could lead to a decline in MFI as prices adjust. Additionally, the liquidation map indicates significant long liquidations clustered around the $0.46-$0.473 range, which may further pressure the price downward.

As XLM continues to navigate this volatile market, traders are advised to watch key liquidity zones. The closest liquidity pool is identified between $0.533 and $0.55, while another significant cluster lies around the $0.4 mark. The $0.463 level may also serve as a potential bounce point in the short term.

Notice: Canadian investors should be aware of the volatility in cryptocurrency markets and consider market conditions before making investment decisions.

In summary, while Stellar (XLM) has experienced substantial gains recently, it is now facing a potential retracement. Traders should monitor key support levels and liquidity zones as the market adjusts to recent price movements.