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Major Stellar (XLM) Metric on Massive Rise: Here’s What’s Happening
The post Major Stellar (XLM) Metric on Massive Rise: Here’s What’s Happening appeared on BitcoinEthereumNews.com. Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. With its ecosystem’s total value locked (TVL) rising significantly, Stellar is exhibiting encouraging growth indicators. The increase in TVL indicates that people are becoming more confident in Stellar’s network and its growing contribution to decentralized finance. Nevertheless, even though this key indicator is rapidly increasing, the price of XLM has not yet reflected the same level of excitement. At the moment XLM is trading around $0.418; the resistance close to $0.428 is halting additional upward movement. A successful break above this level might move XLM in the direction of the $0.44-$0.45 range, which is where a more robust resistance zone is developing. A crucial support level on the downside is still the $0.36-$0.34 area, which corresponds to the 100 EMA. A clear uptrend has been difficult for XLM to sustain even with positive momentum from TVL growth. XLM/USDT Chart by TradingView The market may be hesitant, as evidenced by recent price movements, perhaps as a result of greater uncertainty surrounding altcoins. Nonetheless, if investor sentiment and network activity coincide, there may be a price recovery given TVL’s spike. The total value locked (TVL) on Stellar has risen significantly to more than $60 million. Related Compared to its prior levels, which remained below $20 million for a considerable amount of time, this represents a significant increase. This increase…
The post Major Stellar (XLM) Metric on Massive Rise: Here’s What’s Happening appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. With its ecosystem’s total value locked (TVL) rising significantly, Stellar is exhibiting encouraging growth indicators. The increase in TVL indicates that people are becoming more confident in Stellar’s network and its growing contribution to decentralized finance. Nevertheless, even though this key indicator is rapidly increasing, the price of XLM has not yet reflected the same level of excitement. At the moment XLM is trading around $0.418; the resistance close to $0.428 is halting additional upward movement. A successful break above this level might move XLM in the direction of the $0.44-$0.45 range, which is where a more robust resistance zone is developing. A crucial support level on the downside is still the $0.36-$0.34 area, which corresponds to the 100 EMA. A clear uptrend has been difficult for XLM to sustain even with positive momentum from TVL growth. XLM/USDT Chart by TradingView The market may be hesitant, as evidenced by recent price movements, perhaps as a result of greater uncertainty surrounding altcoins. Nonetheless, if investor sentiment and network activity coincide, there may be a price recovery given TVL’s spike. The total value locked (TVL) on Stellar has risen significantly to more than $60 million. Related Compared to its prior levels, which remained below $20 million for a considerable amount of time, this represents a significant increase. This increase…
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