Stellar Lumens (XLM) has shown remarkable growth, breaking through a long-term downtrend and surging by 52% over the last week.
Breakout and Brief Price Surge
Last week, XLM broke out of a long-term descending triangle, indicating the beginning of a bullish phase. The token’s price rose from $0.2986 to $0.3185, marking a 5% daily increase. A potential upside of 97.76% from the breakout point is now being projected.
Volume Growth and PayPal Plans
Data from Coinmarketcap shows that XLM rallied 52.89% over the past week, reaching a peak of $0.3636. This rally was supported by a 131.4% surge in 24-hour trading volume, hitting $1.44 billion. Additionally, PayPal is planning to integrate its stablecoin, PYUSD, into the Stellar blockchain, which is anticipated to enhance access to capital and global remittances.
Analysts' Forecasts and Future Prospects
Analysts forecast that XLM could target the $0.60 region, with key resistance expected around $0.45. Support levels remain near $0.25. If market volumes stay strong and resistance is cleared, XLM may continue its upward trajectory in the coming weeks.
Strong technical indicators and the increasing utility of Stellar Lumens maintain investor interest. Real-world applications may further bolster the token's growth.
