September 18, 2023 at 05:53 PM GST 1 min read News
  • Stellar XLM experiences a modest price uptick amid bearish trends, challenging market sentiment.
  • Stellar may find a crucial support zone between $0.05 and $0.07, according to expert analysis.
  • Despite short-term bearish outlooks, long-term prospects hint at a possible rally towards $4.

Stellar XLM’s price sees a modest but noteworthy 2% rise, trading around $0.118 in the early New York session on Monday. This comes after a bearish last week, but institutional investors like Circle USDC and BlackRock continue to bolster Stellar.

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Nick, a renowned digital asset analyst, predicts a complex road ahead for XLM. He anticipates the price might retest the 50 daily moving average before potentially falling below the 200 DMA.

Despite short-term volatility, experts see a glimmer of optimism. According to Nick, the bearish sentiment won’t last forever; Stellar’s price could find significant support between $0.05 and $0.07. Long-term projections even indicate a price rally towards the $4 mark, contingent on demand and supply dynamics.

In the future, Stellar and its native token XLM seem destined for positive undertakings. As decentralized finance gains traction, Stellar’s architectural soundness and institutional support are likely to usher it into a new era of exponential growth.

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