The Stellar XLM price rally has encountered a significant hurdle, as it struggles to maintain upward momentum despite recent gains. Investors are closely monitoring the situation as the cryptocurrency faces resistance at a critical price level. The source reports that market analysts are divided on the potential for a breakout in the near term.
Stellar's XLM Price Update
After a notable increase of 4.44%, Stellar's XLM price reached 0.37. However, it has been unable to break through the resistance level at 0.41, indicating a potential stall in its upward trajectory.
Trading Volume Insights
Additionally, daily trading volume has remained below 200 million, suggesting a lack of strong buying interest that could propel the price higher. This slowdown in the rally highlights the challenges the market faces in regaining momentum. Even in light of recent positive developments surrounding the cryptocurrency, the situation remains complex.
While the Stellar XLM price faces resistance, the decentralized finance sector is witnessing significant developments, as Lithos DEX recently achieved a total value locked of $15 million in its first week. For more details, see this article.
