Stellar Lumens (XLM) Eyes Breakout as Network Activity Surges
Stellar Lumens Holds Key Levels Amid Network Expansion
Stellar Lumens (XLM) has demonstrated stability, trading within a narrow band of $0.42 to $0.43 between August 14th and 15th. While profit-taking nudged the price down 1% to $0.43, analysts suggest XLM is nearing a critical resistance level.
CoinDesk data indicates a potential breakout targeting $0.60–$0.77, fueled by strengthening network fundamentals and increased institutional involvement.
Key On-Chain Metrics
- Active enterprise wallets: Reached an all-time high of 9.69 million.
- New institutional addresses: Gaining 5,000–6,000 daily.
- Total Value Locked (TVL): Jumped 80% to $150 million, signifying growing corporate adoption.
Technical Analysis Points to Potential Upside
Traders are closely monitoring the $0.47–$0.50 range, which could trigger institutional short covering and propel the price higher. Despite initial selling pressure pushing XLM to $0.42, consistent buying at that level suggests strong support.
Overnight recovery saw XLM retest $0.43 before consolidating. A brief dip back to $0.42 in the final hour was met with a swift rebound, suggesting easing selling pressure and potential for renewed upward momentum.
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