XLM Might Experience a Further Surge to the Upside as the Stella Ecosystem Grows

Azeez Mustapha


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To broaden the scope of its platform and application, Stella has been stirring up several industries. In a recent essay, Denelle Dixon, the Chief Executive Officer of the Stellar Development Foundation (SDF), discussed the connection between blockchain technology and humanitarian aid. Launching the Stellar Disbursement Platform is one of Stella’s most recent accomplishments.

Businesses can deal in large quantities using this platform, which also makes it simple to view transaction records. It is also important to note that, in Denelle Dixon’s opinion, this development has been beneficial for refugees in conflict areas like Ukraine. Due to the Stella ecosystem’s rapid expansion and growing popularity of use cases, XLM is certain to continue rising for some time.

Key Stella Levels To Watch – May 11

XLM Might Experience a Further Surge to the Upside as the Stella Ecosystem GrowsThe overall trend of XLMUSD is bullish. The bullish trend began after the price’s rejection at the $0.070280 demand level. The second impulse likewise emerged following the price’s rejection at the $0.074810 demand level.

The rejection at the $0.074810 demand level caused the price to return to an FVG (Fair Value Gap). The Fair Value Gap was created on November 11, 2022. According to the RSI (Relative Strength Index), XLMUSD is heading into an oversold state; therefore, the continuation of the uptrend is looming.

XLM Key Levels

Resistance Levels: $0.102500, $0.109120, $0.114560
Support Levels: $0.090190, $0.074810, $0.070280

Total Market Capitalization: $1.14T
Stella Market Capitalization: $2.37B
Stella Volume: $48.7M
Market Rank: #27

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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