XLM is currently hovering around $0.16, with short-line movement still weak. Despite the change in the rate for the renewal of contractual funds, which indicates that some traders are still in multi-head positions, data on the ratio, spot and futures transactions have not improved at the same time, and market sentiment remains divided.

It's still empty.

The CoinGlass data show that XLM space ratio has dropped to 0.92, close to more than a month low. This value is lower than 1, which means that there is more than one empty space, reflecting that the market ' s expectation of a subsequent downfall remains.

At the same time, the XLM funding rate rose to 0.009 per cent. The positive change in the rate of funds usually means that there is a tendency in the contract market to maintain positions at a cost, indicating that some of the funds are still being held back.

No significant improvement in current and futures data.

CryptoQuant data show that XLM remains dominant in the spot and futures markets and that there has been no significant shift in the overall trading structure. It was also mentioned that large-scale whale hangers added to the uncertainty of short-line fluctuations.

Overall, the seller still has the initiative. Even though the market sentiment has been slightly repaired, it is not enough to say that XLM has emerged from vulnerable areas.

The resistance above is concentrated at 0.176 to 0.190 dollars.

Technically, XLM is still below the three main index moving averages. The average daily line is located near US$ 0.180 and US$ 0.190 at US$ 0.176, 100 and 200, respectively.

This means that an area of 0.176 to 0.190 dollars creates more intense upper resistance. Short-line vulnerable patterns are difficult to reverse if prices are not able to get back into the zone.

For indicators, the XLM RSI is close to 33 and is close to the oversale area; the MACD is still in negative range. The lower RSI may support a technical rebound, but this alone is not sufficient to confirm that the price is already at the bottom.

If the XLM first breaks through the range of 0.176 to 0.177, the sales pressure may be eased, and the market will then look to whether it can further explore the range of 0.180 and 0.190. If the current gap continues to be lost, the more important supporting position below is close to $ 0.142.