Stellar (XLM) Open Interest Hits All-Time High Amid 78% Price Jump

Stellar (XLM) has seen its price jump by 78% this week, reaching a new high for the year. This price increase has attracted a lot of attention from investors, leading to a record high in Stellar's Futures Open Interest, reaching $520 million in the last 24 hours. This high open interest indicates that traders are confident in further price increases for XLM. Technical indicators suggest the uptrend in XLM's price is gaining strength. XLM is currently trading around $0.46 and faces resistance at $0.47. If it breaks through this level, it could potentially reach $0.50 and then $0.56. However, if the market changes or investors start selling, XLM could fall to support levels of $0.43 and $0.41, and potentially further down to $0.35.