In the past four days, the price of Stellar (XLM) has dropped by 7%, yet new metrics suggest an improvement may be on the horizon.
Current Price Situation of Stellar
Recent events indicate that the short-term price picture for XLM is not encouraging. The price has fallen below the 50 and 100 exponential moving averages, which are now acting as resistance at levels around $0.28 and $0.27.
Indicators of Network Growth
According to a recent post by Scopuly, more than 265 million transactions were processed on the Stellar network within just 24 hours, marking a significant spike. This increase in activity may indicate deeper adoption and the potential for new partnerships.
Future Prospects for XLM
There are expectations that if the XLM price can hold above $0.24, there may be a chance for recovery. The divergence between network usage and token price could signify future growth. If the price can recover and hold above $0.28, it may pave the way for upward movement to $0.30 or even $0.32.
While the current price situation for XLM appears unfavorable, network activity and metrics present positive aspects that could indicate improvement in the future.
