Stellar (XLM) is showing positive signs in the cryptocurrency market, with a price increase of more than 3% over the last 24 hours, capturing investor attention.
Price and Trading Volume Surge
According to CoinMarketCap data, Stellar is trading at $0.2909 after peaking at $0.292 during earlier trading. Despite minor corrections, XLM showed significant growth from a low of $0.2806, supported by increasing ecosystem backing. Trading volume is up by 6.96%, totaling $189.92 million.
Support from Investors
Stellar investors are optimistic, as evidenced by a significant rise in open interest. In the last 24 hours, traders betting on Stellar futures triggered a 7.33% increase in open interest. A total of 561.17 million XLM, valued at $162.27 million, has been committed, reflecting increased investor confidence and signaling potential price growth.
Short-term Risks for Stellar
However, analyst Ali Martinez warns that Stellar needs to stabilize above $0.27 to avoid losing its gains. If this support level gives way, it could lead to further declines, given the existing short-term risks in the market. In light of this warning, market participants need to carefully analyze their investment intents.
Stellar (XLM) is demonstrating positive indicators in the market, strengthening its position among investors. However, attention to short-term risks remains crucial for achieving further growth.
