Stellar's XLM token shot up 12% over the past 24 hours, outpacing the broader crypto market on Tuesday. The asset climbed more than 11% during the session, pushing toward a critical resistance zone as traders piled in. Open interest across XLM futures hit $261 million, signaling fresh capital entering the market, while daily trading volume ballooned to $879 million from just $153 million a few days ago, according to Santiment data.
Funding rate flips positive
The funding rate for XLM reached 0.0061% on Tuesday, a positive reading that favors long-position holders. That suggests the rally is being driven by spot buying and leveraged longs rather than speculative short-covering. The metric is still modest enough to avoid triggering liquidation cascades if the price pulls back.
Technical setup: support and resistance
XLM was trading near $0.227 on Tuesday, maintaining what traders call a constructive setup. The immediate resistance sits at $0.237, with a larger supply zone around $0.260. On the downside, a key support zone is formed by the 61.8% Fibonacci retracement level near $0.200 and the 200-day exponential moving average around $0.199. Additional support lies at the 50-day EMA of $0.185 and the 100-day EMA of $0.182.
The relative strength index is near 71—strong momentum without tipping into overbought territory. The MACD indicator is trending higher, signaling that bearish pressure is fading. If the price loses the $0.200 psychological level, the next floor could be $0.185, then $0.177.
With volume surging and open interest climbing, the market is watching whether XLM can break through $0.237 in the coming sessions. A clean move above that level could open the path toward $0.260. But if the broader market turns cautious, the $0.200 handle becomes the first real test for bulls.
