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Stellar (XLM) is positioning itself for a bullish run. Recent developments include a surge in daily transaction volume by 246.89%, reflecting increased market activity. The Stellar Development Foundation has hinted at a significant announcement on September 12, driving speculation and investor interest.
I second this. $XLM market cap will grow over time and increase if we see an alt season soon. Its still cheap. Meaning $VELO has every chance of getting up to where #XLM market cap is now if we see stellar move on from current prices.
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) September 1, 2024
Furthermore, the integration of Stellar’s Anchor Platform with Paychant is expanding its use in Africa, boosting adoption. Financial institutions are increasingly turning to Stellar for asset tokenization, highlighting its growing role in the blockchain space. With the upcoming launch of the Soroban smart contract platform, XLM is poised for further growth. These factors suggest a positive outlook for XLM shortly.
Key Stellar Levels To Watch – September 2
XLM/USD shows a bullish reversal from the support zone around $0.090. This bullish move is confirmed by the break of the descending trendline.
The price is hovering near the 9-day SMA (Simple Moving Average), which could act as a dynamic support. The Stochastic Oscillator is now oversold, indicating a possible upward momentum to come.
Stellar (XLM) Key Levels
Resistance Levels: $0.1040, $0.1140, $0.1370
Support Levels: $0.0930, $0.0750, $0.0750
XLM Metrics
Total Market Capitalization: $2.01T
XLM Market Capitalization: $2.70B
Stellar Volume: $42.30M
Market Rank: #30
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