Are Stellar (XLM) preparing for your next big break?

TL; Dr.

• Stellar approaches the critical area of ​​$ 0.32– $ 0.30 after rejection of a resistance of $ 0.45.
• Long settlements dominate, with $ 192K closed as XLM slip from the range of $ 0.40– $ 0.45.
• The protocol 23 update on September 3 adds attention while merchants observe a breakup settings.

The price moves to the demand zone

Stellar (XLM) was quoted at $ 0.36 at the time of publication, with a volume of 24 hours of $ 288 million. The Token has changed little in the day, but it has fallen 7% during the past week.

Alpha Crypto Signal said XLM is approaching a key support area.

“The rejection of the resistance of $ 0.45 is developing cleanly, and the price action now advances towards that key demand area at $ 0.32– $ 0.30,” said the group.

They added that this area remains its approach to accumulation. The daily table shows that XLM is under pressure after being rejected of $ 0.45. The asset is now directed towards the range of $ 0.32– $ 0.30, which has previously served as a basis for rebounds.

The short -term trends indicators are placed above the current levels, with EMA 9 to $ 0.37 and SMA 50 to $ 0.41. If buyers defend the support, a rebound towards $ 0.50 – $ 0.55 is still possible. However, a decisive rest below $ 0.30 would weaken this configuration and aim at greater losses.

Commercial volumes have cooled from the acute Rally of July, which suggests consolidation while the market awaits the management.

Long increasing settlements

Recent liquidation data show that long positions are being squeezed as XLM moves lower. On September 2, long liquidations reached more than $ 192,900 compared to $ 55,750 in short liquidations.

The greatest action came from OKX, where $ 138,160 were closed in long positions. Binance registered long and short liquidations, while at the beginning of July, the trend was invested, with liquidated shorts as XLM recovered at almost $ 0.50.

Meanwhile, the change towards long liquidations reflects the setback of $ 0.45 and highlights the importance of the support range of $ 0.32– $ 0.30.

Next protocol update

The next update of the Stellar network, protocol 23, is scheduled for September 3. The update will introduce changes in the system, although its immediate effect on market behavior is uncertain.

With the price approaching a crucial support level and the update on the horizon, merchants are observing to see if XLM can stabilize and prepare for another breakdown attempt.