Stellar Price Surge: Bulls Eye $0.20 Resistance Zone

The price of Stellar (XLM) has been on the rise, gaining 8.2% in the past 24 hours and sparking a surge in trading volume, which increased by 221% according to CoinMarketCap data.

This bullish momentum was accompanied by a 14.4% increase in Open Interest over the same period, as well as a rising spot CVD. The funding rate briefly dipped into negative territory before rebounding.

Despite this dip, the XLM price continued to climb, with buyers defending their position at the $0.173 support level for now.

The next major resistance zone to watch is the $0.20 area, which has been a stubborn obstacle to buyers in recent weeks. The liquidation heatmap highlights the importance of this zone as a potential break or reversal point.