Technical analysis patterns could predict a significant rebound in the price of a star cryptocurrency (XLM).
As can be seen in the graph below, XLM prices have completed double gentle land. There is usually a price movement towards an increase. The first floor was recorded on March 31, reaching USD 0.22, then bounced back to USD 0.30.
The second was held on June 16th. At the end of this report, on June 16th, the cryptocurrency backed up to USD 0.22 and bounced back again, reaching USD 0.24.
In cryptocurrency trading, double bullish soil patterns like before This indicates that the buyer is taking control.
However, all shows price increases, but it could be cryptocurrency Find resistance between 0.30 USD to 0.35 USDas happened on February 24th, the asset price fell from USD 0.348 to USD 0.26 (this is because of the tendency of support and resistance zones to repeat).
In general, real world asset tokenization (RWA) and the use of Stablcoins are factors that drive the demand for XLM.
In May this year, according to analysis of Messari Cryptocurrency Market and estimates from research companies. USD 528.8 million issued at Stellar’s RWAthe third largest network in this niche.
As defined in encrypted cryptopedic, RWA is a cryptographic token that represents a concrete asset that exists outside the digital field. Works of art, property of real estate, raw materials or goods, etc.
Meanwhile, Stellar reported a market capitalization of USD 168.8 million. This is a 15% increase in the year.. This adds that USDC is more than 98% of the market capitalization of Stars, a stable cryptocurrency issued by the circle, and the second largest market capitalization.