Stellar Falls to $0.23 as Momentum Weakens Across All Timeframes
Stellar (XLM) dropped to $0.23 due to weakening bullish conviction, evidenced by declining open interest and bearish technical indicators.Summary
Stellar (XLM) has fallen to $0.23 following a breakdown from a multi-day uptrend that peaked near the $0.25–$0.26 region. This price decline is supported by a significant drop in Open Interest (OI), which fell from aggressive highs during the rally to about 61.7M, suggesting traders are closing positions rather than aggressively shorting.
On the daily chart, XLM remains in a macro downtrend since its mid-year peak near $0.52. Technical indicators confirm the bearish sentiment: the MACD remains negative, indicating momentum has not shifted to buyers, and the Chaikin Money Flow (CMF) is at –0.09, signaling sustained capital outflows.
Despite the price drop, liquidity remains healthy, suggesting the move is driven by broader market weakness and technical failures rather than fundamental issues. Stellar is currently trading defensively at $0.23, ranked 24th by market cap.
(Source：Brave New Coin)