Stellar [XLM]已經處於下降趨勢一段時間

這顯示了其氣泡風險振盪器高峰之後的歷史模式，出價急劇波動。

Stellar [XLM] has been displaying a general downtrend and this has shown a historical pattern of sharp price fluctuations following peaks in its bubble risk oscillator.

Stellar [XLM]一直顯示出一般的下降趨勢，這表明其氣泡風險振盪器達到高峰之後，價格急劇波動的歷史模式。

The Short-Term Bubble Risk chart follows price in its oscillator levels.

短期氣泡風險圖表遵循其振盪器水平。

The oscillator, ranging from 0 to 1, repeatedly spiked above the 0.5 mark, signaling high bubble risk. Notably, these spikes in 2017, 2018, 2021, and 2025 correlated closely with substantial price drops.

振盪器的範圍從0到1，反復高於0.5分，表明了高氣泡風險。值得注意的是，這些峰值在2017年，2018年，2021年和2025年與大幅下跌密切相關。

Source: IntoTheBlock

來源：intotheblock

In 2017, XLM peaked at $0.9 but later dropped to $0.1 by 2019, marking a 90% decline from its 2018 all-time high (ATH). A similar pattern emerged in 2021, with XLM reaching $0.7 before dropping to $0.1 by 2023.

2017年，XLM的峰值為0.9美元，但隨後跌至2019年的0.1美元，標誌著其2018年曆史最高水平（ATH）下降了90％。在2021年出現了類似的模式，XLM達到0.7美元，然後到2023年下降到0.1美元。

In 2025, XLM briefly surged to $0.4 before falling back to $0.1, registering an -84.5% decline as the oscillator peaked at 0.808, indicating strong bearish momentum.

在2025年，XLM短暫飆升至0.4美元，然後降至0.1美元，隨著振盪器達到0.808的峰值，下降了-84.5％，表明持有強勁的看跌勢頭。

Each oscillator spike above 0.5 was followed by a substantial decline, suggesting continued volatility in the asset.

每個振盪器尖峰高於0.5之後，大幅下降，表明資產持續波動。

However, if the oscillator drops below 0.5 and shows stability, it could signal a reversal from the bearish trend.

但是，如果振盪器下降到0.5以下並顯示出穩定性，則可能表明從看跌趨勢逆轉。

If XLM manages to maintain a price above $0.4, it may break free from its pattern of steep declines, setting the stage for a potential bullish phase.

如果XLM設法將價格保持在0.4美元以上，它可能會擺脫其急劇下降的模式，為潛在的看漲階段奠定了基礎。

XLM: A closer look at ATH declines

XLM：仔細觀察Ath Sewines

The XLM Percentage Drawdown from ATH chart highlighted the coin’s price history and significant declines. After hitting a peak of $0.9 in 2018, XLM dropped over 90% to reach $0.1 by 2019.

ATH圖表中的XLM百分比降低強調了硬幣的價格歷史和大幅下降。在2018年達到0.9美元的峰值之後，XLM下降了90％以上，到2019年達到0.1美元。

Source: IntoTheBlock

來源：intotheblock

A similar peak at $0.7 in 2021 led to an -80% drawdown by 2022. In 2025, XLM briefly touched $0.4 before falling to $0.1, registering an -84.5% decline.

在2021年，類似的峰值達到0.7美元，到2022年導致-80％的縮水。2025年，XLM短暫觸及0.4美元，然後下跌至0.1美元，下降了-84.5％。

The consistent pattern of -80% to -90% drawdowns highlights the asset’s volatility and bearish tendencies.

-80％至-90％的逐步逐漸減少的一致模式突出了資產的波動性和看跌趨勢。

Stability in price above $0.4, combined with a drawdown of less than -50%, may indicate a bullish reversal. As XLM stabilizes and reduces volatility, it could shift away from its historical trend of steep declines.

價格高於$ 0.4的穩定性，加上低於-50％的降價可能表明看漲逆轉。隨著XLM穩定並降低了波動性，它可能會偏離其急劇下降的歷史趨勢。

Liquidation risks and safer entry zones

清算風險和更安全的進入區

XLM’s liquidation heatmap revealed key liquidity zones and price fluctuations between $0.262026 and $0.289401. At press time, the price was at $0.263026, with significant liquidation leverage above $0.28.

XLM的清算熱圖顯示，關鍵的流動性區域和價格波動在0.262026至0.289401美元之間。發稿時，價格為0.263026美元，大量清算槓桿超過0.28美元。

Dense clusters at $0.285 and $0.289401 highlighted high liquidation risks if prices rose.

如果價格上漲，則密集群為0.285美元和0.289401 $ 0.289401強調了高清算風險。

Source: Coinglass

資料來源：小店

Conversely, lower liquidity pools were present at $0.27 and $0.265, offering a relatively safer entry point. Minimal liquidation pressure was observed at $0.262026.

相反，較低的流動性池以0.27美元和0.265美元的價格出現，提供了一個相對更安全的入口點。觀察到最小的清算壓力為0.262026美元。

Investors seeking lower liquidation risk could consider entering between $0.262026 and $0.265, avoiding positions above $0.28.

尋求較低清算風險的投資者可能會考慮進入0.262026至0.265美元之間，避免以高於$ 0.28的頭寸。

A breakout beyond $0.289401 with reduced liquidation pressure could indicate a bullish trend, making entries above $0.29 more viable for momentum traders.

超過$ 0.289401的突破，清算壓力降低可能表明看漲趨勢，這使得參賽者對動量交易者的可行性超過0.29美元。

In conclusion, XLM’s historical trends indicate continued volatility, with sharp price corrections following oscillator peaks. However, a stabilization in drawdowns and reduced liquidation pressure could offer a path for recovery.

總之，XLM的歷史趨勢表明持續波動性，振盪器峰後的價格較高。但是，逐漸穩定和降低的清算壓力可以為恢復提供途徑。