The Stellar network token (XLM) saw an impressive rally last week, taking its price to a high of $0.63 per unit. However, after reaching that peak, a profit-taking phase reduced its value to the current $0.48. Despite this setback, XLM’s weekly performance remains notable, with growth close to 100%.
In the last 24 hours, the token has shown signs of slowing down, although analysts believe it could receive fresh impetus, opening the door to future positive returns. Investors are attentive to the next move of XLM, whose performance will be strongly influenced by the behavior of Bitcoin.
A rebound in interest in cryptocurrencies could reignite the bullish trend that took XLM to its recent high. The great ambition of Stellar enthusiasts is to reach parity with the dollar and explore new horizons from there.
Stellar positions itself as a platform focused on global payments, differentiating itself from blockchains such as Ethereum or Solana, designed primarily to support smart contracts. However, the recent Soroban update is redefining this narrative by allowing Stellar to venture into the world of smart contracts, significantly expanding its reach and potential.
Stellar’s relationship with key financial players makes it an important player to watch in the near future. Everything indicates that XLM could benefit from acceptable buying pressure in the short term, especially if market conditions remain favorable.
Stellar price maintains positive returns in the last 7 days. Source: CoinMarketCap
Expectations for Stellar’s XLM token
Despite the correction since Saturday, many analysts are optimistic about a possible recovery. The Greed & Fear Index shows a score of 77, indicating a state of extreme greed for XLM. In the last month, the Cryptocurrency recorded 21 days of positive trend, suggesting a 70% probability of positive returns.
Market sentiment, according to CoinCodex, is equally encouraging, with 90% bullish expectations. This portal, which analyzes 31 technical indicators, concludes that 28 of them point to a new rise in the token in the short term.
Recent projections suggest that the price of XLM could reach the long-awaited $1 in May 2025, coinciding with the possible peak of the crypto market’s next bull run. Subsequently, an adjustment towards $0.70 is anticipated, closing the year 2025 at $0.59.
It is important to remember that these predictions are based on technical analysis, which has significant limitations. External factors, such as news or macroeconomic events, can drastically alter market trends. Therefore, the analyzes should be taken as a reference and not as absolute certainties.
Disclaimer: This work is for informational purposes only and should under no circumstances be taken as an invitation or investment advice. Cryptocurrencies are highly volatile assets and placing capital in them can lead to total losses.
Do you want to always be updated in the world of cryptocurrencies? Subscribe now to the CriptoTendencia WhatsApp channel! Here you will instantly receive the most relevant information about Bitcoin, Altcoins, DeFi, NFTs, Blockchain and the Metaverse.
Related
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
