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While the overall cryptocurrency market experiences a downturn, Stellar’s main network asset, XLM, is capturing investor attention. Bitcoin (BTC) 
$104,006 has fallen by 3.5% and Ethereum (ETH) 
$2,588 by 2%, while XLM has increased by over 5% in the last 24 hours. Currently, XLM is trading around $0.27, with trading volume surging by 75%, indicating strong investor interest.
XLM Shows Positive Technical Signals
Crypto experts note that XLM’s technical outlook is positive. According to Ali Martinez, known for sharing analyses on X platforms, the altcoin is forming a bullish flag, a technical pattern indicating potential upward movement. XLM recently managed to hold on at a support level of $0.236 and has started to climb again. If XLM maintains its position above this level, a price increase of 18% to reach $0.33 is anticipated.
According to the analyst, if XLM closes above $0.35, there is a high likelihood of a rapid increase of 65% to reach $0.605. However, the current daily chart shows that the 200-day Exponential Moving Average (EMA) is acting as a resistance. Breaking through this level could enable XLM to rise more swiftly.
Investors Continue to Take Risks
In light of the current price volatility, investors are observed taking large positions in the altcoin. There are long positions valued at $3.02 million at the $0.26 level.
Moreover, at $0.285, investors have opened long positions worth $2.65 million. These levels indicate that investors maintain bullish expectations and support price movements.
