Stellar (XLM) is facing instability after a recent sharp decline and is attempting to hold above the $0.44 support level, which is key for future growth.
Overview of XLM Situation
Following recent volatility, Stellar (XLM) is currently above the crucial $0.44 support level, deemed essential for bullish continuation. This price point has emerged as a division between potential upward movement or correction.
Daily Chart Analysis of Stellar
On the daily chart, Stellar (XLM/USDT) trades at $0.4367, reflecting a sharp 7.34% daily decline. This pullback follows a rejection from the $0.50 level, which had become a resistance. The Relative Strength Index (RSI) has cooled to 63.73, indicating a shift from euphoric buying to a more neutral sentiment. If bulls cannot maintain the $0.43–$0.44 support range, the correction may deepen, impacting the strength of the recent rally.
4-Hour Chart Dynamics and Derivatives Data
On the 4-hour chart, Stellar (XLM/USDT) has slipped to $0.4396, posting a 4.62% decline. The RSI has dropped to 37.33, clearly showing bearish divergence. Derivatives data shows that open interest (OI) is increasing despite spot market weakness, signaling growing interest from traders and leveraged positions.
Stellar (XLM) continues to face pressure, but derivatives data shows a potentially bullish trend. The support at $0.44 is critically important for restoring buying interest.
