After a continuous decrease in prices, the cryptocurrency market is restored, and the star (XLM), in the visible one, restores its bull impulse. Over the past three days, XLM has survived a decrease in prices by 18%, and also overcame its important support level of $ 0.403.
XLM bulls back
However, with today’s impulse up, XLM returned to the support level and is preparing for further receipt. The potential reason for this restoration of prices in the cryptography market, including XLM, is the upcoming inauguration of the elected president Donald Trump, planned for January 20, 2025.
Thanks to this potential price restoration, the XLM Daily Dailt has formed the perfect installation for traders who strive to go for a long time, with an ideal ratio of risk to remuneration.
Technical analysis of XLM and upcoming levels
According to the daily XLM diagram, traders can see an attractive risk ratio of reward 1: 5.6 with a stop of $ 0.38 and the purpose of the mark of $ 0.60.
If we delve into the analysis, the technical analysis of the expert suggests that the XLM forms an optimistic inverted price scheme with optimism into daily time frames.
Based on the recent price action, if the XLM closes its daily candle above the mark of 0.415 US dollars, there is a strong probability that it can significantly take off and complete the speculation scheme of action.
Traiders redefined positions
Looking at this bull forecast, merchants seem to build long positions, as shown in an analytical company in the On-Chain Coinglass.
According to the data, the main level of liquidation on the lower side is $ 0.388, where traders occupied significant long positions in the amount of $ 7.47 million. USA. Nevertheless, $ 0.422 are another large liquidation zone, where short sellers built more than 2.09 million dollars. USA.
These levels are areas where traders are redesigned and can be eliminated if the price is shifted to any level.
The current price is impulse
Currently, the XLM is trading about $ 0.418 and has become a witness to the increase in prices for more than 4.5% in an increase in pulse. However, during the same period, its trading volume has also increased, which indicates increased participation among traders and investors.
