XLM Insight Trading: Key Support Level Determines the Future, Potential 25% Increase Ahead

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Recently, an expert posted on platform X (formerly Twitter) indicating that the technical indicator TD Sequential has issued a clear buy signal for XLM. However, the future trend depends on whether the price can maintain above the key support level of $0.33.

Key Points of Technical Analysis:

Price Range Consolidation: Over the past four days, XLM's price has hovered between $0.34 and $0.39, close to the important support level of $0.347. Upside Potential: If the support level holds, XLM is expected to rise by 25%, reaching $0.45. Downside Risk: Conversely, if the daily closing price falls below $0.33, XLM may face a 33% retracement, dropping to $0.22.

On-Chain Data and Market Sentiment:

Strong Buying Pressure: According to Coinglass data, recent transactions worth $6.5 million in XLM on exchanges show investors' long-term outlook. Bullish Long-Short Ratio: On the Binance trading platform, the long-short ratio for XLM/USDT has reached 1.87, with 65.4% of top traders holding long positions. Active Long-Term Holders: Although trading volume has decreased by 19%, the enthusiasm of on-chain holders and traders has weakened, indicating that the market's bullish confidence in XLM remains solid.

Currently, XLM is trading at $0.358. Although it has fallen by 3% in the past 24 hours, the overall upward trend remains unchanged. Combining technical analysis with on-chain indicators, XLM's support level at $0.35 still shows considerable stability and growth potential.

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