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XLM, the native token of Stellar Lumen, is poised for significant upside momentum due to the immense support it has received from investors in recent days. Despite this notable interest, XLM’s price has been struggling over the past few days following its bullish breakout.
On January 15, 2025, XLM broke out from a bullish inverted head-and-shoulders price action pattern. Since then, the price has entered a consolidation phase. Long-term holders appear to be consistently accumulating, as reported by the on-chain analytics firm Coinglass.
$20 Million XLM Worth XLM Outflow
Data from spot inflow and outflow analysis reveals that exchanges have witnessed a significant outflow of $20 million worth of XLM over the past three days. This substantial outflow, following a bullish breakout, is considered an ideal opportunity.
In cryptocurrency, outflow refers to the transfer of assets from exchanges to wallets, indicating potential accumulation. This can create significant buying pressure and drive further upward price momentum.
XLM Technical Analysis and Upcoming Level
According to expert technical analysis, XLM appears bullish but is currently stuck in consolidation. Based on recent and historical price momentum, if XLM breaks out of this consolidation and closes a daily candle above the $0.50 level, there is a strong possibility it could soar by 25% to reach the $0.65 level in the future.
On the positive side, XLM’s Relative Strength Index (RSI) remains below the overbought zone, indicating that the asset has ample room for significant upward movement.
Current Price Momentum
At press time, XLM is trading near $0.48 and has experienced a price surge of over 2% in the past 24 hours. Additionally, its trading volume has increased by 5% during the same period, indicating growing interest from investors and traders, which could potentially drive XLM’s price higher.