XLM holds above key moving average support as derivatives traders build long positions
Stellar's XLM held above major moving-average support while derivatives positioning grew more bullish, with long-to-short ratios near one-month highs.
Why it matters
The story is limited in significance as it involves routine derivatives market positioning for a single cryptocurrency without broader market implications. The single-source nature of the reporting means the claims lack independent verification.
Key facts
XLM remained above important moving-average support zones, preserving bullish structures.
Reported by CoinJournal
XLM's long-to-short ratio rose to 1.15, approaching its highest level in one month.
1.15Reported by CoinJournal
XLM's funding rate became positive on September 2 and climbed to 0.0147%.
0.015 %Reported by CoinJournal
Further resistance targets for XLM were identified at $0.218 and $0.237.
Reported by CoinJournal
What happened
CoinJournal reported that Stellar's XLM maintained its position above important moving-average support zones on Tuesday, preserving bullish structures. Derivatives data indicated growing bullish sentiment, with the long-to-short ratio reaching 1.15, its highest level in approximately one month. Funding rates turned positive on September 2 and climbed to 0.0147%, meaning long position holders are paying shorts to maintain market balance. XLM faces immediate resistance at $0.20, with further targets identified at $0.218 and $0.237. The report noted that while the positive funding rate supports a constructive outlook, excessively high rates could increase liquidation risk for longs if prices decline sharply.
How the story developed
- Update
XLM funding rate turned positive
XLM's funding rate became positive, signaling bullish derivatives positioning.
- First report
First report by CoinJournal
XLM defends major moving averages as buying pressure builds
- Update
XLM long-to-short ratio approaches one-month high
The long-to-short ratio for XLM reached 1.15 on Tuesday, approaching its highest level in a month.
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CoinJournal Crypto media | XLM defends major moving averages as buying pressure builds | Original |
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