Stellar [XLM]已经处于下降趋势一段时间

这显示了其气泡风险振荡器高峰之后的历史模式，出价急剧波动。

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]一直显示出一般的下降趋势，这表明其气泡风险振荡器达到高峰之后，价格急剧波动的历史模式。

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

短期气泡风险图表遵循其振荡器水平。

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.

振荡器的范围从0到1，反复高于0.5分，表明了高气泡风险。值得注意的是，这些峰值在2017年，2018年，2021年和2025年与大幅下跌密切相关。

Source: IntoTheBlock

来源：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的峰值为0.9美元，但随后跌至2019年的0.1美元，标志着其2018年历史最高水平（ATH）下降了90％。在2021年出现了类似的模式，XLM达到0.7美元，然后到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短暂飙升至0.4美元，然后降至0.1美元，随着振荡器达到0.808的峰值，下降了-84.5％，表明持有强劲的看跌势头。

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

每个振荡器尖峰高于0.5之后，大幅下降，表明资产持续波动。

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

但是，如果振荡器下降到0.5以下并显示出稳定性，则可能表明从看跌趋势逆转。

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设法将价格保持在0.4美元以上，它可能会摆脱其急剧下降的模式，为潜在的看涨阶段奠定了基础。

XLM: A closer look at ATH declines

XLM：仔细观察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图表中的XLM百分比降低强调了硬币的价格历史和大幅下降。在2018年达到0.9美元的峰值之后，XLM下降了90％以上，到2019年达到0.1美元。

Source: IntoTheBlock

来源：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，类似的峰值达到0.7美元，到2022年导致-80％的缩水。2025年，XLM短暂触及0.4美元，然后下跌至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％的逐步逐渐减少的一致模式突出了资产的波动性和看跌趋势。

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.

价格高于$ 0.4的稳定性，加上低于-50％的降价可能表明看涨逆转。随着XLM稳定并降低了波动性，它可能会偏离其急剧下降的历史趋势。

Liquidation risks and safer entry zones

清算风险和更安全的进入区

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的清算热图显示，关键的流动性区域和价格波动在0.262026至0.289401美元之间。发稿时，价格为0.263026美元，大量清算杠杆超过0.28美元。

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

如果价格上涨，则密集群为0.285美元和0.289401 $ 0.289401强调了高清算风险。

Source: Coinglass

资料来源：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，较低的流动性池以0.27美元和0.265美元的价格出现，提供了一个相对更安全的入口点。观察到最小的清算压力为0.262026美元。

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

寻求较低清算风险的投资者可能会考虑进入0.262026至0.265美元之间，避免以高于$ 0.28的头寸。

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

超过$ 0.289401的突破，清算压力降低可能表明看涨趋势，这使得参赛者对动量交易者的可行性超过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.

总之，XLM的历史趋势表明持续波动性，振荡器峰后的价格较高。但是，逐渐稳定和降低的清算压力可以为恢复提供途径。