Stellar (XLM) is trading near a key support level between $0.23 and $0.24, potentially setting the stage for a bullish breakout after months of decline.
Elevated open interest coupled with low spot volume suggests traders are gearing up for a potential XLM price surge.
Historical data shows that past XLM rallies were preceded by similar setups, with strong moves following spikes in derivatives activity.
An analyst forecasts a possible 186% surge for XLM, targeting levels above $0.68, indicating significant upside potential if market sentiment improves.