Stellar (XLM) Price Bulls Take Control Amid Short Liquidations
The post Stellar (XLM) Price Bulls Take Control Amid Short Liquidations appeared on BitcoinEthereumNews.com.
Stellar (XLM) price is capturing trader attention as bullish momentum builds following a sharp price rally and rising market activity. A classic inverse head and shoulders pattern is forming on the 4-hour chart, pointing to a possible trend reversal. With short liquidations surging and volume climbing, bulls appear to be gaining control. If support holds, XLM may be on the verge of a breakout above key resistance levels. Bullish Pattern Develops on XLM Price Chart Stellar (XLM) is trading at $0.2967 after peaking above $0.305 and dipping to $0.2735 earlier in the day, reflecting strong intraday bullish momentum. The price is up over 8%, supported by a 190.74% surge in trading volume to $473.9 million. Market cap has climbed to $9.19 billion, with a fully diluted valuation of $14.83 billion. XLM’s circulating supply stands at 30.98 billion out of 50 billion total. Technically, XLM’s 4-hour price chart shows an inverse head and shoulders pattern forming, often signaling a bullish reversal. The neckline between $0.28 and $0.29 serves as a key resistance zone. Source: CoinMarketCap A breakout above this neckline could propel prices toward Fibonacci extension targets of $0.324, $0.341, and $0.368, with a longer-term aim near $0.390. The combination of a bullish pattern, rising volume, and strong market interest suggests continued upside potential if confirmation occurs. Liquidation Data Shows Short Traders Hit Hard Data from Coinglass shows that short positions are being closed rapidly as prices rise. On May 8–9, short liquidations rose, with traders covering their positions as XLM moved past $0.30. The liquidation chart shows a balanced derivatives market with bursts of volatility tied to price spikes. The largest long liquidations occurred on April 6–7, reaching $931,500, following a sudden dip in XLM’s price. On April 9, a sharp rise in price caused a wave of short liquidations.…
