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With weekly active addresses up 37% to 243,000 addresses, XLM She has shown amazing growth in her activity on the series. Along with this increase, weekly transactions increased by a significant 37.3%, reaching 38.96 million. Even in the face of broader market volatility, these metrics show growing interest and engagement within excellent Ecosystem.
As the market sees it, XLM is currently trading at $0.4061, up 3.78% from the previous day. After recent price corrections, the token managed to recover from the 50 EMA support level, which is located around $0.39. However, it must overcome the resistance at $0.44 in order to make a stronger recovery.
Stellar's expanding role in enabling cross-border payments and decentralized finance (DeFi) initiatives is likely the main reason for the rise in transaction volume and active addresses. The growing DeFi ecosystem is demonstrated by Stellar's total value locked (TVL), which increased 2.99% to $48 million. This upward momentum is supported by the growing popularity of Aquarius finance.
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However, technical indicators advise caution. The strong uptrend in terms of volume has not been confirmed yet, and the RSI is in neutral territory, hovering around 52. Support levels for the 100 EMA at $0.39 and possibly $0.30 could be retested by XLM If it cannot exceed $0.44. A deeper bounce may occur as a result of a breakout of these support levels. The upside is that a recovery of $0.44 will allow a breakout of $0.50, which is a technical and psychological barrier.
Recent highs at $0.55, fueled by continued network expansion and broader market recovery, could be reached if this level is broken. The increase in addresses and transactions highlights the growing confidence in the Stellar ecosystem. The potential for continued upside in XLM looks bright – as long as these fundamentals hold, but investors should keep an eye on important price levels and market conditions.
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