Gate News: Over the past two days, Stellar (XLM) has risen approximately 14%, currently approaching the 61.8% Fibonacci retracement level at $0.1776. The Chaikin Money Flow (CMF) indicator shows a bullish divergence, with buying pressure gradually recovering and net buying exceeding selling, providing upward momentum for XLM. The futures market favors long positions, indicating traders’ confidence in a breakout, but also suggesting that if resistance is met, a concentrated short squeeze could be triggered.
Historical data shows that XLM briefly touched $0.1776 in mid-February before falling back to around $0.1710, then testing support at $0.1618. The current descending wedge pattern adds technical resistance, but a breakout above this level could target $0.2010, offering a potential upside of over 25%. During the breakout, the 78.6% retracement at $0.1859 will be a key level to watch.
The CMF trend indicates that if readings stay above zero and move toward the 0.10–0.20 range, bullish strength will strengthen. Futures data shows that long liquidation leverage is concentrated near current prices; a decline to around $0.1630 could trigger approximately $4.3 million in long liquidations, increasing downward pressure. A strong support level is at the low of $0.1469, serving as a critical safety line.
From both technical and capital perspectives, XLM will either successfully break through the 61.8% Fibonacci resistance and advance toward $0.2010 or face resistance and trigger a decline and liquidation. The short-term trend shows clear divergence. Investors should monitor the key resistance at $0.1776 and the risk of long liquidation in the futures market to gauge the next market direction.
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