From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Stellar (XLM), which surged over 100% in the past week, has now witnessed a sharp decline in Open Interest. This drop in XLM Open Interest indicates waning enthusiasm among derivatives traders, potentially indicating a weakening in the recent rally’s momentum.

Although holders may remain optimistic, on-chain analysis suggests that XLM’s price could face a significant correction if the current market condition does not change. 

Stellar Market Dominance Fizzles

On November 24, XLM Open Interest climbed above $339 million, which was an all-time high. As reported earlier, this massive interest in the altcoin is linked to the surge in Ripple (XRP) price. 

However, as of this writing, the OI, as it is commonly abbreviated, has fallen to $209 million. This drop indicates that traders have closed previously open contracts worth $130 million. Unsurprisingly, this decline coincided with XLM’s price decrease, which caused it to lose 10% of its value in the last 24 hours.

From a price perspective, the drop in OI means buying pressure in the derivatives market has decreased. Hence, if the OI value continues to decline, then XLM’s price is likely to fall below $0.45.

Another bearish signal for Stellar is its declining social dominance. This metric evaluates the proportion of discussions about a cryptocurrency compared to the top 100 assets. When social dominance rises, it typically indicates heightened market interest and demand. Conversely, a decline suggests diminishing attention and potentially lower demand. 

A few days ago, XLM’s social dominance was at 3.13%. However, it has dropped significantly to 1.73%, implying that market participants are shifting their focus to other assets. If this trend persists, it could lead to further price drops for XLM.

XLM Price Prediction: Push Back to $0.28 Likely

If the declining OI and social dominance continue, XLM may struggle to sustain its recent gains. On the daily chart, the Money Flow Index (MFI) reading has dropped. The MFI measures buying and selling pressure and tells if an asset is overbought or oversold.

When the reading is above 80.00, it is overbought. But when it is below 20.00, it is oversold. As seen below, the MFI hit the overbought zone earlier before it retraced. Considering the current condition, XLM’s price could decline to $0.28.

However, a break below the $0.22 support level could push the price down to $0.17. On the flip side, if buying pressure increases in the derivatives and spot market, this might not happen. Instead, XLM could rally to $0.64.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.