The price of the cryptocurrency Stellar (XLM) continues to show positive dynamics, reaching a level of $0.3314, its highest since March. Experts note real growth and interest from investors.
Strong Price Growth of Stellar
The price of Stellar (XLM) has surged by 50% compared to June lows, indicating strong buying activity. In one day, the cryptocurrency recorded a 14.5% increase, and trading volume soared by 300%. This confirms the growing interest in XLM.
Key Resistance Levels
XLM is currently testing a key resistance zone between $0.34 and $0.36. If it can break through this range and hold above it, a rise to $0.41 and potentially $0.50 could follow. However, it's worth noting that the RSI indicator shows a reading above 79, which may indicate a pullback.
Factors Contributing to Growth
Unlike previous periods, the current growth of Stellar is driven by real network expansion. The supply of stablecoins on the Stellar platform is increasing, and developers are actively building dApps on it. This demonstrates a deeper shift in how the XLM ecosystem is perceived.
Thus, the rise in the price of Stellar (XLM) could signal the beginning of a new trend if resistance is cleared. This moment is particularly important for the further development of XLM in the market.
