Stellar Lumens faces Bearish Pressure Despite Network Growth
Stellar Lumens (XLM) is under pressure, despite its network’s strong performance. The token’s funding rate is falling, signaling a bearish trend. This rate is a fee between traders in perpetual futures contracts. A negative rate means more traders are betting against the token.
Despite extraordinary on-chain activity,XLM has dropped to a critical support level. The token fell 35% from its May high and 62% from its 2024 peak.If this support breaks, XLM could fall another 36%. The funding rate, which reflects market sentiment, has been negative since May.This suggests more traders are betting against XLM.
On-chain metrics show growth. Transactions are rising, and stablecoin supply is at a record high. Real-world asset tokenization is also expanding. Yet, XLM’s price has plunged to $0.2175, a key support level. This level is crucial. If it breaks, the price could drop further. The network’s fundamentals are strong, but the market is not reflecting this.The token hit a low of $0.2175 this week. The funding rate is at its lowest as June 30. A negative rate means short sellers are paying long traders.This indicates bearish sentiment. The token’s price has fallen sharply. It’s down 35% from May’s high. The network’s operations are growing. In June, operations reached 197 million. stablecoin supply hit $667 million. The total value locked in real-world assets is $487 million. The Franklin OnChain US Government Money Market Fund is helping this growth. But the price is not matching the network’s success.
Third-party data shows the network’s health. The number of operations rose to 197 million in June. The stablecoin supply is at a record high. The network’s active addresses rose 10% to 146,700. Transactions are up 11% in seven days, reaching 18.2 million. the network’s value locked in real-world assets is up. It’s up for five months straight.
Technical analysis shows a bearish outlook. the price is below key levels. It’s below the 50-day and 100-day averages. A break below $0.2175 could lead to a 36% drop. The price is below the 61.8% Fibonacci Retracement. A drop below the descending triangle’s lower side could mean more losses. The price is below the 50-day and 100-day averages. The price is in a descending triangle pattern. A break below this level could signal more losses.The next key level is $0.15. This is 36% below current levels. The token’s price is in a bearish pattern. The token’s price is in a bearish pattern. The price is below the 50-day and 100-day averages. The token’s price is in a bearish pattern. The price is below key levels. The token’s price is in a bearish pattern. The price is below the 50-day and 100-day averages. The price is in a bearish pattern. The price is below the 50-day and 100-day averages. The price is in a bearish pattern. The price is below the 50-day and 100-day averages. The price is in a bearish pattern. The price is below the 50-day and 100-day averages. The price is in a bearish pattern. The price is below the 50-day and 100-day averages. The price is in a bearish pattern. The price is below the 50-day and 100-day averages. The price is in a bearish pattern. The price is below the 50-day and 100-day averages. The price is in a bearish pattern.
- Transactions are rising.
- Stablecoin supply is at a record high.
- Real-world assets are tokenizing. The price is in a bearish pattern.
Stellar’s price is in a bearish pattern. The price is below the 50-day and 100-day averages. The price is in a bearish pattern.
Stellar’s price is in a bearish pattern. The price is below the 50-day and 100-day averages. the price is in a bearish pattern.The price is below the 50-day and 100-day averages. The price is in a bearish pattern.The price is below the 5
