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Stellar’s Protocol 20 upgrade sparks a bullish outlook for XLM. Stellar, a renowned blockchain platform known for its swift and cost-efficient cross-border transactions via XLM, is set to introduce a significant development on September 20th. This marks a moment of optimism for astute investors as Stellar initiates the Protocol 20 testnet upgrade, paving the way for the imminent Soroban smart contract platform activation.
Check out what Stellar has to say on X:
The testnet is upgrading to Protocol 20 on Sept. 20 at 1500 UTC (8am PST).
To prep:
1. Update Stellar-related software
2. Stay updated in #protocol-20 discord channel
3. Click below for more info https://t.co/4JSaUDIgWn— Stellar (@StellarOrg) September 19, 2023
The upcoming testnet upgrade will unveil prototype versions of Stellar Core and Horizon, the backbone of Stellar’s security and interface simplification. Horizon’s ability to streamline blockchain interactions could potentially drive a bullish trajectory for Stellar (XLM), making it more enticing and accessible for investors and fostering a wave of innovative applications.
Watch this to discover more.
Stellar Critical Levels To Watch: September 20
The overall market trend has been bullish since the price rejection at the $0.0750 demand zone. According to the MA Cross, the bullish trend emerged afterward as XLMUSD headed to a high at $0.11790. The next high formed within a day after a major low formed at $0.09500.
The market’s current trading range is between the $0.09500 support and the $0.19600 resistance. After hitting the 79.0% retracement level of the current trading range, XLMUSD resumed its bullish trend. Moreover, the Stochastic Oscillator suggests a possible reversal to the upside as the market enters the oversold state.
XLM/USD Critical Levels
Resistance Levels: $0.13500, $0.18100, $0.19600
Support Levels: $0.11100, $0.09500, $0.07500
Total Market Capitalization: $1.07T
Stellar Market Capitalization: $3.24B
Stellar Volume: $55.2M
Market Rank: #22
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