XLM Price Eyes 40% Rally, Key Level to Watch
After the announcement of the crypto strategic reserves, sentiment in the cryptocurrency landscape has completely changed. Among them, XLM is a local token for the star, impressive, but not as much as expected.
Current price motivation
As of today, XLM has grown 5% in the past 24 hours as of March 3, 2025, and is currently trading at close to $0.33. Meanwhile, its rival XRP surged significantly during the same period.
With this upward move, XLM retracted its crucial support level of $0.31, but again faced sales pressure of $0.36, a historic resistance level.
XLM Technical Analysis and Upcoming Levels
According to expert technical analysis, the XLM appears to form an inverted head and shoulder pattern over the daily time frame with a neckline of $0.365. Based on historical price momentum, if the asset continues to rise, violates the $0.365 level and closes above it, it could increase by 40% to $0.50 in the next few days.
However, during the recent price drop, XLM successfully retested its 200-day exponential moving average (EMA), indicating that the asset is on an uptrend and highlights its bullish power.
Bullish chain indicators
With XLM’s bullish outlook, investors and traders showed strong interest and confidence, betting on upside and accumulating tokens, as reported by chain analytics company Coinglass.
$2.45 million worth of XLM outflow
Data from spot inflows/outflows suggests that the exchange has witnessed $2.45 million worth of XLM tokens over the past 24 hours.
Traders look at the prospect
At press time, the main liquidation level on the lower side was $0.318 and the upper side was $0.339, at which traders made excessive leverage. The data further suggests that the Bulls are currently dominating the assets, establishing $2.9 million in a longer position at the lower level, hoping that the price will not be below $0.318. Meanwhile, traders hold $2.18 million in short stakes on short side bets, with a level of $0.339. However, once the price moves in any direction, these positions will be liquidated.
