Altcoins News
By Pankaj K
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Protocol 23 Upgrade: A Potential Game-Changer?. Stellar's upcoming Protocol 23 upgrade is designed to enhance smart contract capabilities and…
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Traders Pull Back as Open Interest Plunges. One of the clearest signs of waning confidence in XLM is the sharp decline in open interest (OI)…
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XLM Faces Wedge Breakdown Risk on the Charts. From a technical analysis perspective, XLM is showing signs of weakness.
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Price Targets if Breakdown Continues. If XLM closes below the 200-period EMA and the support trendline, the next key support lies around…
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Is There Upside Potential?. Despite the bearish outlook, there is still some hope for a rebound.
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Conclusion. Stellar (XLM) is facing critical technical and sentiment-based challenges as the price trends lower.
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Stellar (XLM) is under growing pressure as its price continues to drop for a third consecutive day.
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However, there is still a potential turning point ahead. The Protocol 23 upgrade, which aims to improve the Stellar network, could help shift momentum in XLM's favor if it…
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The testnet version of the upgrade has already been deployed, with the validator vote scheduled for August 26, 2025.
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One of the clearest signs of waning confidence in XLM is the sharp decline in open interest (OI) over the past two weeks. According to data from CoinGlass, XLM's OI peaked at $588.
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This drop indicates that many futures and options traders have exited their positions, possibly expecting further downside.
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From a technical analysis perspective, XLM is showing signs of weakness. The price is currently testing the 200-period Exponential Moving Average (EMA) on the 4-hour chart,…
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The Relative Strength Index (RSI) on the same chart is at 31, which signals increasing selling pressure and a potential move into oversold territory.
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A key pattern that has formed on the chart is a descending wedge, created by two converging trendlines.
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If XLM closes below the 200-period EMA and the support trendline, the next key support lies around $0.3732. A continued decline could then test the S2 pivot level at $0.
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