Stellar Drops Below $0.31, Faces Potential 32% Decline
The Most Important Points at a Glance
Stellar (XLM) has broken the critical support at $0.31 and, according to technical analysis, could drop by 32% to $0.19. Despite the downtrend, exchanges have recorded an outflow of $7.1 million in XLM, indicating buying interest. At the same time, traders are increasingly betting on falling prices and have built up short positions worth $3.42 million.
Stellar Loses Key Support
On February 25, 2025, the price of Stellar (XLM) dropped by 14% and fell below the crucial support at $0.31. This level had often served as a turning point for the price in the past. After the decline, XLM was trading at $0.279. At the same time, trading volume increased by 85%, indicating heightened market activity.
Technical Analysis: Further Decline Possible
According to technical analysis, XLM is in a clear downtrend. The break of the $0.31 support and the closing price below this level confirm the negative market sentiment. If the trend continues, XLM could fall to $0.19 in the coming days – a 32% drop. Additionally, the price has fallen below the 200-day Exponential Moving Average (EMA), reinforcing the bearish tendency.
$7 Million in XLM Withdrawn from Exchanges
Despite the price decline, on-chain data shows that investors are accumulating XLM. According to the analytics platform Coinglass, XLM worth $7.1 million was withdrawn from exchanges within 48 hours. Such outflows can indicate increasing demand and potential buying pressure, which could stabilize the price in the long term.
Short Positions Dominate the Market
While long-term investors are buying XLM, short-term traders are betting on falling prices. According to Coinglass, traders have opened short positions worth $3.42 million at $0.306. This suggests that many market participants do not expect a quick recovery. At the same time, long positions at $0.272 are highly leveraged, indicating that some traders are betting on stabilization.
Our Assessment
Stellar (XLM) is under strong selling pressure after breaking the critical support at $0.31. Technical indicators suggest a possible decline to $0.19. However, exchange outflows indicate that some investors see the current weakness as a buying opportunity. In the short term, however, short positions dominate the market, which could amplify the downtrend. Those investing in XLM should closely monitor price movements and market sentiment.
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