Stellar (XLM) Breaks Key Resistance Signaling Potential 50% Rally
- XLM is gaining momentum after weeks of decline, fueled by Bitcoins surge
- A Federal Reserve paper recognizes BFT, reinforcing Stellars role in secure payments
- Technical analysis suggests a falling wedge breakout, hinting at a 50-55% rally
- Growing institutional interest could drive long-term adoption and investor confidence
Stellar (XLM) is showing signs of a major rebound after enduring weeks of volatility and price declines. The cryptocurrency, which struggled amid broader market turbulence, has dropped nearly 24% over the past 30 days and declined 4% in the last week, mirroring the bearish sentiment across the market. However, with Bitcoin surging and pushing altcoins toward recovery, XLM is gaining momentum, signaling a potential bullish breakout.
As of now, Stellar (XLM) is trading at $0.322201, reflecting a 4.68% increase in the last 24 hours. The token boasts a market capitalization of $9.82 billion and a 24-hour trading volume of $918.45 million. These figures indicate growing interest and liquidity as Stellar regains its footing.
Federal Reserve Acknowledges BFT: A Game-Changer for XLM
A groundbreaking research paper from the Federal Reserve has officially recognized Byzantine Fault Tolerant (BFT) consensus as a critical technology for secure payment systems. This development strengthens the position of cryptocurrencies like XLM, XRP, and HBAR, all of which leverage variations of BFT to ensure high-speed and secure transactions.
With institutional acknowledgment of BFT-based blockchain technology, Stellars role in financial ecosystems is becoming more prominent, potentially boosting long-term adoption and investor confidence.
XLM Poised for a 50-55% Bullish Breakout
According to World Of Charts, XLM is breaking out of a falling wedge pattern, a bullish technical setup often leading to significant upward movements. The cryptocurrency has cleared a key horizontal resistance level, signaling a potential 50-55% surge in the coming days.
As market sentiment improves and institutional interest in blockchain-based payments grows, Stellar could be on the verge of a major rally. If momentum continues, the token may soon reclaim higher price levels, making it a top altcoin to watch in the near future.
Related Reading | Ethereum Whales Scoop Up 190K ETH Amid Market Jitters Is A Rebound On The Horizon?
Read more: https://www.tronweekly.com/stellar-xlm-breaks-key-resistance-signaling-potential-50-rally/
Text source: TronWeekly
