Stellar Lumens Rises 3% Amid Strong Institutional Trading
Stellar Lumens (XLM) increased by 3% over a 23-hour period ending October 6, with its price moving from $0.40 to $0.41, as institutional trading exceeded 71 million tokens.
- A technical rebound from $0.39 led to increased demand and a rally through key resistance levels.
- XLM maintained above the $0.41 mark, indicating continued institutional accumulation and confidence in its long-term utility in blockchain-based financial infrastructure.
- Corporate buying pressure is seen as evidence of Stellar’s growing enterprise utility recognition.
- Market strategists forecast potential for XLM to reach $1.00 in the next wave of institutional adoption, driven by blockchain payment network growth in corporate finance.
Technical Metrics Indicate Institutional Accumulation
- Institutional support at $0.39 confirmed with a volume of 62.57 million tokens on October 5.
- Resistance at $0.41 saw multiple tests before breaking due to corporate buying.
- An ascending trend from $0.39 showed consistent support during accumulation.
- Key movements were backed by elevated corporate trading, notably 2.86 million tokens traded at 13:38 confirming the breakthrough above $0.41.
- Sustained corporate accumulation observed with sequential higher prices in the final trading hour.
- Daily trading volumes surpassed 71 million tokens, much higher than the 24-hour corporate average of 25.43 million.