Stellar faces bearish pressure as sellers target breakdown below $0.1500

Key takeaways 

• XLM is down 2% on Thursday after the 100-day EMA capped its short-term recovery run.
• XLM futures Open Interest stabilizes, but the declining long-to-short ratio signals a bearish bias.

XLM flips bearish as the leverage market loses confidence

Stellar (XLM) extended its losses on Thursday, with the token struggling to regain momentum as the 100-day Exponential Moving Average (EMA) near $0.1798 continues to cap upside attempts, reinforcing a bearish short-term outlook.

Sentiment in the derivatives market also points to growing downside expectations. Data from Coinglass shows that XLM futures Open Interest (OI) remains elevated at $114.70 million after climbing sharply from $99.45 million earlier this week, signaling sustained trader activity despite weak price action.

However, bearish positioning continues to dominate. The long-to-short ratio currently sits at 0.7632 — a level that has remained below 1 since mid-January — indicating that traders are increasingly favoring short p...