Stellar's XLM Faces Bearish Pressure Amid Cautious Market Sentiment
The Stellar cryptocurrency (XLM) is facing bearish pressure as it trades below $0.155, down by over 2% in the last 24 hours.
Mixed derivatives and on-chain indicators point to cautious sentiment, leaving XLM at risk of additional losses.
Despite Bitcoin's rally above $64,000, XLM is underperforming, with a long-to-short ratio of 0.90 indicating more traders are betting on prices falling than rising.
The funding rate has turned negative, reading -0.0215%, suggesting bears are in control of the market.