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XLM downtrend continues, short contracts surge. Can the $0.20 support hold?
【Crypto World】The market as a whole is rebounding, but XLM is bucking the trend under pressure. The price of this Stellar ecosystem token has already fallen below the $0.22 mark, with a modest decline but a clear trend.
From the derivatives perspective, the situation is even more concerning. Open interest has surged to $112 million, with a long-short ratio of only 0.91—indicating that bears are clearly in the lead. This suggests that traders are generally bearish and are increasing their short positions.
On the technical side? The support level is right at $0.20. If it can’t hold, the next target could be $0.16, which is the lowest point this year. The upcoming few days’ movement will need close monitoring.
Holding at 0.20 would be good; I can't bet on it.
What's going on with Stellar? It feels like its presence is fading.
The long-short ratio is 0.91. With such fierce bears, I better stay away.
A sharp dip to 0.16 is a bit intense; it might take a few days to rebound.
Once 0.16 breaks, it will be disastrous. Keep a close eye on these days.
The sound of liquidation might be coming again.
This wave of XLM is a bit risky, friends.
Are the bears really this fierce that they can't hold on?
If it drops to 0.16, it's completely GG, be cautious, be cautious.
This is still a rebound, XLM is still falling, where's the logic?
The bulls are about to be harvested again today, this ratio is dangerously high.
The bears are so fierce, be careful not to break below. Once it slips to $0.16... oh no.
Why is XLM so disappointing? Everything else is rebounding, but it keeps falling.
It seems like all the derivative funds are shorting it, which feels a bit strange.
These days, I need to watch the market closely; it seems quite likely that $0.20 won't hold.
I really didn't expect the bears to be so fierce. The way contracts are soaring, caution is still needed.
XLM has been really weak these days, unable to rebound at all.
I'm a bit worried about the 0.16 level; if it drops further, I'll cut losses.
It seems there haven't been many positive developments in the Stellar ecosystem recently, no wonder it's being hammered down.