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Stellar’s delayed upgrade sparks a price growth opportunity amidst bug discovery. The Stellar Development Foundation has uncovered a low-risk bug prompting the delay of a scheduled network upgrade beyond January 30. The delay in Stellar’s network upgrade due to a recently discovered bug has created uncertainty but presents an opportunity for growth in XLM’s price.
CRYPTO BREAKING NEWS
— InnovatekMobile (@Neome_com) January 28, 2024
Stellar’s Strategic Upgrade: Implications for XLM’s Market Performance. The Stellar Development Foundation’s discovery of a low-risk bug has led to the postponement of a planned network upgrade, initially scheduled bey… check us out @… pic.twitter.com/bpGMzzfoXM
Despite setbacks, a fix is expected within two weeks, aligning with mid-February completion. The bug, affecting the Soroban smart contract transactions, necessitates an upgrade for Stellar’s relevance and market competitiveness. Positioned as preparation for an anticipated bull market, the update aims to attract users and enhance capabilities. Analysts foresee substantial price expansion, emphasizing the potential impact on Stellar’s growth in the coming weeks.
Key Stellar Levels To Watch – January 28
The price of Stellar is currently bounded by the $0.1010 support and the $0.1380 resistance. The MA Cross also indicates that the overall direction of the market is bearish.
According to the RSI (Relative Strength Index), XLMUSD is in the discount zone of the trading range. The bullish trend is likely to resume as prices enter the oversold region of the discount zone.
XLM/USD Key Levels
Resistance Levels: $0.1170, $0.1260, $0.1380
Support Levels: $0.1010, $0.0910, $0.0860
Stellar Metrics
Total Market Capitalization: $1.57T
Stellar Market Capitalization: $3.3B
Stellar Volume: $53M
Market Rank: #26
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