Stellar (XLM) is currently testing a key support zone between $0.23 and $0.24, a level that historically triggered rebounds of 33%, 48%, and 133%. Market participants are monitoring this area closely, as past patterns may provide insights into potential price movements.
Technical Overview
XLM/USD has formed a falling wedge pattern twice this year. The first wedge resulted in a significant breakout, and the second is now approaching the same breakout zone. If historical trends repeat, a 100% rally from current levels could be achievable, contingent on decisive buying activity.
On-Chain Activity
On-chain metrics support a bullish outlook:
- Stellar ranked among the Top 10 blockchains by transaction count over the past 12 months, with 1.5 billion confirmed transactions.
- Weekly throughput averaged 48.5 TPS, maintaining strong real-time network activity.
Conclusion
With recurring technical patterns and robust network fundamentals, XLM is at a critical decision point. Traders and investors should monitor the $0.23–$0.24 support zone closely for potential upside opportunities.
Top comments (0)