The token XLM remains above the support of the main moving averages, with a price of around $0.193. Derivative data also indicates that market bets on its short-term trend are leaning towards the bulls, and both the funding rate and the long-short ratio are strengthening simultaneously.

The long-short ratio has risen to a high level for the month.

CoinGlass Data shows that on XLM, the long-to-short ratio rose to 1.15, approaching a one-month high, indicating an increase in long positions.

In terms of funding rates, since September 2nd when XLM turned positive, it has continued to rise, reaching a latest level of 0.0147%. This usually indicates that in the perpetual contract market, long positions are willing to pay the cost to maintain their positions, suggesting an overall strong market sentiment.

The consolidation area of moving averages provides support.

From the perspective of price structure, XLM has once again crossed above the 50-day, 100-day, and 200-day exponential moving averages. These three moving averages are currently concentrated between $0.179 and $0.188, forming a relatively dense short-term support zone.

If there is a pullback in prices, this area may attract buying interest. The Relative Strength Index RSI is currently near 60, still in a relatively strong range, but has not yet entered a state of obvious overboughtness. MACD also maintains a moderate positive value, indicating that the upward momentum has not completely weakened.

$0.20 becomes a short-term focus

The first thing to pay attention to above is the resistance around $0.20, which also corresponds to the 61.8% Fibonacci retracement level and is a fairly significant psychological barrier as well.

If the price effectively reaches this level, the next target could be $0.218, followed by $0.237. The nearest support level below is at $0.188; if this area is lost, the market will turn its attention to the $0.177 and $0.173 ranges.