Stellar XLM roadmap
Stellar XLM has made remarkable progress since the beginning of the month. So, will this situation continue or will it go down? What’s the latest on XLM?
Which way is Stellar XLM headed?
The most prominent event affecting the Stellar XLM movement was Grayscale’s 5,566,271 XLM purchases last month.. The main trend of XLM is already upwards in line with the market.. At this rate, if the price rises above $0.70, its next target may be 0.75 or even 0.80. It broke above $0.68 and the current price is around $0.62.56. XLM, whose main trend is to the upside, could be one of the best performers in April if it continues to rise like this.
Fundamental analysis: Grayscale bought 5,566.271 XLM last month
Stellar XLM, It’s been booming since the beginning of January. It continues to trade in the buy zone despite a correction. Stellar is a project operating as a not-for-profit organization with a mission to connect payment systems, people and banks.
Users are not charged for transacting on the network and Stellar has many advantages over Bitcoin. we can’t go without saying. Stellar transactions are confirmed in seconds at very low costs, while Bitcoin transaction confirmations can take much more time with higher transaction costs. It increased. For this reason, in April, it can make a big surprise and rise well above its current price.. Meanwhile, wealth management firm Grayscale purchased 5,566,271 XLM worth approximately $3.5 million last month.
When institutional investors showed interest in Stellar, its price reacted just as strongly.. When Grayscale went on a buying spree and loaded onto this cross-border mission crypto, it put upward pressure on the price.
Technical analysis: Stellar (XLM) may move further in the ongoing bull market
Enterprise demand for Stellar (XLM) seems to be growing at an exponential rate. Since the beginning of April, XLM’s market cap has increased by over 60%.
Stellar (XLM) could rise above its current level in the ongoing bull market and if the price rises above $0.70, the next price target could be around $0.75 or even $0.80. Stellar’s trading volume is high and rising. Therefore, there is no risk of a reversal of the trend for now.
On the other hand, if the price drops below $0.50, it will be a definite “sell” signal and we are on our way to the $0.40 support level.
Stellar XLM is a project that has attracted attention since it entered the crypto money market and is calmly advancing towards its goal with confident steps.. The fact that the market is currently a bull market and the interest from institutional investors is also beneficial for XLM and seems to continue to do so.
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