u.today
With weekly active addresses rising by 37% to 243,000, XLM has demonstrated impressive growth in its on-chain activity. Alongside this increase, weekly transactions have increased by a noteworthy 37.3%, reaching an impressive 38. 96 million. Even in the face of wider market volatility, these metrics demonstrate the increasing usefulness and engagement within the Stellar ecosystem.
As seen by the market, XLM is currently trading at $0.4061, up 3.78% over the previous day. Following recent price corrections, the token has successfully recovered from its 50 EMA support level, which is located around $0.39. It must, however, overcome resistance at $0.44 in order to have a more robust recovery.
Stellar's expanding role in enabling cross-border payments and decentralized finance (DeFi) initiatives is probably the main cause of the rising transaction volume and active addresses. A growing DeFi ecosystem is demonstrated by Stellar's Total Value Locked (TVL), which has increased by 2.99% to $48 million. This upward momentum is aided by the growing popularity of Aquarius and Finance.
Technical indicators, however, advise caution. A strong bullish trend has not yet been confirmed by volume, and the RSI is in a neutral zone, hovering around 52. The 100 EMA's support levels at $0.39 and possibly $0.30 could be retested by XLM if it is unable to break above $0.44. A deeper retracement might result from a breach of these supports. The upside is that regaining $0.44 would allow for the passage of $0.50, a technical and psychological barrier.
Its recent highs around $0.55, which were fueled by ongoing network expansion and a wider market recovery, could be reached if this level is broken. The increase in addresses and transactions highlights the growing trust in Stellar's ecosystem. The potential for a sustained rally in XLM appears bright — as long as these fundamentals hold firm, but investors should monitor important price levels and market conditions.