Headline: Stellar (XLM) under pressure — derivatives point to deeper downside as OI falls
Stellar (XLM) is sliding for a seventh straight day, shedding 3.4% in the past 24 hours as the wider crypto market remains bearish. The token is currently changing hands around $0.222 and is probing the June low near $0.217 — with traders increasingly eyeing a retest of the April 7 trough at $0.2001.
Derivatives signal mounting risk. CoinGlass data shows XLM futures Open Interest (OI) has dropped to $118.43 million from $124.72 million yesterday, indicating a shrinking notional value of active futures positions (both longs and shorts). Over the last 24 hours long liquidations have dominated, totaling roughly $406,740 versus about $6,040 in short liquidations — a sign that buyers have been forced out at a higher rate. The long-to-short ratio has shifted as well: short positions now make up 53.37% of the book, up from 50.57% on Monday.
Technicals remain bearish. The 4‑hour chart favors sellers — the Relative Strength Index sits around 35, edging toward oversold territory, while the MACD recently crossed below its signal line and is sliding sharply. If the downtrend continues, XLM could fall through the $0.2001 level and target deeper support at $0.1642, with the annual low near $0.1600 a possible stretch target.
That said, a bullish reversal isn’t off the table. Should buyers regain control, XLM would first need to reclaim the $0.2579 area — a former support now acting as resistance — to shift momentum back in favor of bulls.
Bottom line: Derivatives flows and technicals are leaning bearish, increasing the odds of another leg down for XLM unless buying pressure returns to absorb current sell-side momentum.
Read more AI-generated news on: undefined/news
