In the last 24 hours, Stellar (XLM) has shown a 7% increase, indicating an active bullish sentiment in the cryptocurrency market.
Stellar Growth and Key Levels
Stellar is demonstrating a recovery on the cryptocurrency market with a 7% rise over the past day, suggesting active bullish efforts to maintain the price at the $0.36 level. This level has proven to be a significant support zone. If the price stabilizes within the $0.42-$0.45 range, XLM could potentially rise to $0.52. However, sustaining trading volume is crucial, which has increased by 50.05% to reach $564.03 million.
Partnership with Visa
An important factor for Stellar’s long-term growth has been the recent addition of XLM to Visa’s blockchain settlement network. This collaboration enhances Stellar’s credibility among institutional investors and may boost liquidity as partners can settle transactions using stablecoins. Successful integration could lead to an increase in cross-border payment users.
Forecasts and Market Prospects
Veteran trader Peter Brandt has predicted that Stellar may become a prominent asset in the cryptocurrency space, likening it to a 'rock star.' Brandt bases his expectations on chart analysis indicating that the asset is in the process of forming a large symmetrical triangle, which could signal further growth.
The current situation surrounding Stellar (XLM) is drawing attention and may lead to new heights, especially in light of its partnership with Visa and investor support.
