XLM, 71.42% lower than its all-time high, 'jumps' 11% in a day...Is it a rebound or a short-term spark?

▲ XLM

Stellar (XLM) recorded a double-digit surge over 24 hours, soaring to a high of $0.273, but whether it can sustain further gains around $0.268 after short-term overheating has emerged as a key variable.

According to CoinMarketCap's real-time chart on June 1, XLM traded at $0.268, up 11.37% over the past 24 hours. The price moved between a 24-hour low of $0.2297 and a high of $0.273, generating strong interest in the market with a robust rebound from its short-term low.

Its market capitalization increased by 11.46% to $9.01 billion, and its 24-hour trading volume grew by 18.51% to $1.43 billion. As both price and trading volume increased, short-term buying pressure clearly revived. The trading volume to market cap ratio was recorded at 15.86%, indicating active fund rotation over 24 hours.

The short-term observation point is whether it can re-break the $0.273 high. If XLM surpasses $0.273 again, the 24-hour upward trend could gain additional momentum. Conversely, if buying pressure weakens around $0.268 and it falls towards the $0.2297 low, profit-taking pressure could increase after the surge.

In terms of supply indicators, the total supply and maximum supply were both indicated as 50 billion XLM, and the circulating supply was tallied at 33.63 billion XLM. The Fully Diluted Valuation (FDV) was confirmed at $13.4 billion, and the market capitalization based on unlocked supply was $13.47 billion. The circulating supply ratio was 67.27231017221762%.

The gap with its long-term high also remains significant. XLM's all-time high was $0.9381, recorded on January 4, 2018, and the current price is 71.42% lower than that high. Its all-time low was $0.001227, recorded on November 18, 2014, and the current price is 21,746.34% higher than that low. In the short term, breaking $0.273 is the first hurdle for continued ascent, while failure to defend $0.2297 could signal a slowdown in the surge.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*