Stellar's XLM Defies Bears, Sets Sights on $0.260
The Stellar cryptocurrency, XLM, continues to show signs of a bullish trend. Despite mixed momentum signals, its long-to-short ratio has risen to 1.15, approaching one-month highs. This indicates that more traders are positioning for an upward price move.
XLM remains above important moving-average support zones, preserving its broader bullish structures. The cryptocurrency's derivatives market data also shows a positive tilt toward XLM. Positive funding rates and rising long-to-short ratios suggest that traders expect XLM prices to rise.
The immediate resistance for XLM is at $0.20, followed by targets at $0.218 and $0.237. Clearing these barriers could open a path toward the descending trendline and the 23.6% Fibonacci retracement around $0.260.