Stellar (XLM) is strengthening its market position with investor interest and active network use. This article examines current prices, technical analysis, and user activity.
Current Price and Technical Analysis
As of the time of writing, Stellar (XLM) is trading at $0.43, reflecting a 5% drop in the last 24 hours. However, the price increased by 2.5% over the past week. Trading volume reached $668 million, indicating continued investor interest. Technical chart analysis shows the formation of a classic 'inverse head and shoulders' pattern, which may lead to further growth. Importantly, the $0.50 level is becoming a key resistance point.
Network Activity and New Wallets
Stellar now has 9.69 million active wallets, with 5,000 to 6,000 new addresses being added daily. This growth highlights the stable use of the network and increasing popularity. The increase in the number of newly created wallets may indicate growing user interest in the platform, which could potentially impact price movements.
Analyst Recommendations and Forecasts
Analysts indicate that for a successful price breakout, it is necessary to maintain levels above the April low near $0.22 and eventually aim to close above $1 to break out of the broader price range. Forecasts suggest that if the $0.50 level is breached, Stellar may reach prices of $0.60, $0.72, and $0.77 based on Fibonacci projections. All eyes are now on whether Stellar can clear this key level.
The situation with Stellar (XLM) demonstrates potential for further growth and interest from both users and investors. Technical analysis and network activity indicate a possible breakout that will be of interest to many market observers.
