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- 1 The OI data analysis saw a continuous advance in the number of OI contracts in the recent sessions.
- 2 The current volume is 218.72 Million, and the market capitalization is $4.18 billion and volatility appears to be declining.
The open interest, development activity, volatility, price, volume, and market cap chart for the XLM asset are showing bullish traits and could show more growth in the future.
XLM demonstrated good performance last week, last month, and the last three months by 6.43%, 29.00%, and 17.15% respectively, indicating a reliable upward trend.
The crypto experienced a 4.31% surge in the last 24 hours, trading at $0.1461. Stellar is making the higher high structure and aims to shatter the nearest hurdle to retest the supply level at $0.19000. The XLM crypto appears to be poised for the continuation of this spectacular rally to smash the $0.1590 resistance level and soar to new heights.
The Stellar asset is showing bullish strength and rising potential as it stays above major 20 and 50-Day EMAs. The MACD shows a bullish cross with a histogram at 0.001238, the MACD is at 0.007378, and the signal line is at 0.006138. Correspondingly, the RSI shows no signs of overbought conditions yet and the curve is at 67.55, suggesting that the XLM asset has more room to grow.
On the flip side, if the XLM price fails to stay above the $0.1188 level, it could decline further towards the demand zone.
xlm shows bullish view by Sam_TCR on TradingView.com
Open Interest chart shows Positive Gestures
The OI data shows the total number of open contracts in the Stellar crypto. The OI data analysis shows a steady rise in the number of OI contracts in recent sessions. During the past session, open contracts rose from 17.21 Million to 32 Million.
However, there has been a short-term OI decline up to 25 Million and its most recent sessions currently stand at 28.24 Million. This highlights XLM crypto’s potential for a rise in future sessions.
What Price, Volume, and Market Cap Demonstrate
The Stellar chart shows the relationship between the XLM token’s volume and price. The chart shows that both asset volume and price were declining in January. That meant a lack of interest and activity in the market for the XLM token. Volumes was mostly under $80 Million and the price was around $0.110.
However, in the second week of February, volume and its price continued to increase, illustrating increased demand and excitement about Stellar crypto price. The trading volume exceeded $150 Million and the price rose drastically from $0.116 to $0.154.
Moreover, at press time, the current volume is 218.72 Million, and the market capitalization is $4.18 billion.
It is essential to consider the trading volume of Stellar in conjunction with the market cap. A high market cap with low trading volume in XLM price might indicate limited liquidity, making it harder to buy or sell without affecting the price, and a high trading volume in Stellar crypto might signify vast liquidity.
Stellar Crypto Volatility Chart Analysis
This chart exhibits the contrast between volatility and price movement in the Stellar crypto. On examination, it shows that the XLM crypto has witnessed tremendous growth in recent sessions, and the volatility has advanced much as well. It illustrated less stability in the price at the higher level which led Stellar price to show a pullback with the volatility declining steadily. Selling pressure is declining from the rear and could continue the ascent and take off on an XLM price rally.
Development Activity Chart Of XLM Crypto
The development and developers activity count shows the recent updates and changes occurring in the XLM crypto. On close observation of the charts, it was seen that the development activity and the developer count has grown gradually since the start of 2024.
Similarly, it also positively impacted the Stellar price as the crypto surged in the second week of February, after a price correction on the daily chart. The recent Development Activity is 25.74, and the Developers Activity Contributors Commit Count at 3.
Summary
The OI data analysis saw a steady advance in the number of OI contracts in the recent sessions. In the recent sessions, it illustrated less stability in the price at the higher level which led XLM to pull back.
On close observation of the charts, it was seen that the development activity and the developer count have been rising gradually since the start of 2024, as well.
Furthermore, the open interest, development activity, price, volume, and market cap chart for the XLM asset show bullish traits. The XLM crypto appears to be poised for a continuation of this spectacular rally, to smash the resistance level of $0.1590 and soar to new heights.
Technical Levels
Support Levels: $0.1188
Resistance Levels: $0.1590
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
