- Stellar (XLM) has seen a 25% surge in trading volume and rising open interest, signaling strong investor interest and potential for further gains.
- Analysts believe XLM could soon hit $0.3, with long-term forecasts predicting a rally of over 2,000% based on technical patterns and institutional backing.
Stellar (XLM) is making waves in the crypto market after printing strong double-digit growth in trading volume. The surge has not only fueled renewed interest among investors but has also led to bold price predictions — some even forecasting a rally of over 2,000% from current levels.
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Stellar XLM Trading Volume Jumps 25%, Boosting Investor Confidence
XLM, currently trading around $0.27, has seen a 2.7% daily price uptick alongside a 25% rise in trading volume, now totaling $163.6 million. This spike in activity has placed Stellar in the spotlight as traders anticipate a climb toward $0.3, a level that has acted as a key resistance zone in the past.
The broader crypto market has also shown bullish signs, with bitcoin rising over 1% and ethereum gaining 5%, which adds further fuel to XLM’s upward push.
Stellar Open Interest Points to Strong Market Engagement
Another critical metric supporting XLM’s rally is open interest — the total number of outstanding futures contracts. According to CoinGlass, open interest in Stellar increased by 2.38%, now sitting at 592.74 million XLM (about $160.66 million).
This increase indicates growing participation in the market, with traders taking new positions. Rising open interest typically aligns with strong market health and suggests further price growth could follow as more liquidity flows in.
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Technical Patterns and Institutional Backing Signal Further Gains
XLM recently broke out of a falling wedge formation — a pattern often interpreted as a bullish reversal. This breakout hints at the end of a long-term downtrend and the beginning of a new upward phase.
Additionally, institutional interest is on the rise. Investment giant Franklin Templeton recently announced plans to allocate a portion of its $1.7 trillion portfolio to Stellar-based projects. This type of backing could attract even more attention to the network.
Eyes on $0.3, But Bigger Targets in Sight
Analysts suggest that surpassing $0.3 could lead to explosive gains, with $0.4 cited as a potential short-term target. More optimistic forecasts point to a $1.29 high based on Fibonacci projections and historical resistance levels.
With trading volume, open interest, and technical patterns aligning, Stellar appears poised for a significant move. While short-term targets like $0.3 are within reach, long-term bulls believe the real story for XLM is just beginning.
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