📈 Market Snapshot
Stellar (XLM) is currently trading around $0.256, up ~3.1% intraday and ~8% over the past week. Intraday highs reached $0.259, while lows touched $0.246, signaling strong momentum returning to the chart.
📰 Today’s Key Headlines
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Protocol 23 RC release launched: New Stellar Core v23.0.0rc2 includes CAP‑62 to CAP‑70 upgrades—covering state archival, parallel Soroban execution, unified asset events, advanced access modules, and more ahead of the full mainnet rollout in August.
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Stablecoin supply hits $630M: XLM’s DeFi ecosystem sees stablecoin deposits rise from $145M to $630M YTD, powered by US Government Fund (FOBXX) and USDC adoption.
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DeFi TVL doubles to $89M: Total value locked on Stellar network now hits a record $89M, up from $35M at the start of the year.
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Bullish technical pattern confirmed: Daily chart confirms a double‑bottom around $0.2167, with a neckline breakout targeting $0.3345—a potential 35% upside.
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Mixed technical signals: Though trading below 50/100‑day MAs (bearish), Stellar displays bullish PPO crossover and strong weekly candlestick patterns.
🧰 Technical Analysis
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Support & Resistance
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Support cluster at $0.246–$0.250 — recent intraday lows and pivot zone.
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Immediate resistance around $0.272–$0.276 (recent highs & PPO target).
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Major breakout level sits at $0.3345 (double‑bottom neckline) offering ~35% upside.
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Indicator Summary
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PPO (Price Oscillator) shows recent bullish crossover, signaling momentum shift .
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TipRanks technical rating: “Strong Buy” on hourly–daily; weekly/monthly neutral, indicating upside potential in short term .
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Investing.com indicators: RSI (~61), MACD positive, ADX ~44 supports strong bullish structure.
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🔮 Outlook
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Bull Case: Hold above $0.246, break and hold above $0.276, then a move toward $0.3345 could be next, presenting ~30–35% upside.
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Bear Case: Failure to hold $0.246–$0.250 could lead to a dip toward $0.2167, invalidating the double‑bottom setup.
📌 Final Take
Stellar is catching upward momentum, fueled by foundational upgrades and deepening DeFi/stablecoin adoption. With technicals flipping bullish and an exciting breakout setup in place, XLM appears primed for a move toward $0.33. Watch $0.276 for potential confirmation of the next leg higher.
