Stellar Lumens Trades Between $0.42 and $0.43 Amid Network Growth
Stellar lumens (XLM) traded between $0.42 and $0.43 from Aug. 14 to Aug. 15, experiencing a 1% decline to $0.43 due to late-session profit-taking. Key points include:
- XLM approaches resistance at $0.50 with potential targets of $0.60–$0.77.
- Active enterprise wallets reached an all-time high of 9.69 million; daily additions of 5,000–6,000 new institutional addresses noted.
- Total value locked on the network increased by 80% to $150 million, indicating corporate adoption growth.
- Monitoring of the $0.47–$0.50 zone for possible institutional short covering.
- Strong support observed at $0.42, despite early session pressure pushing it down.
- Final hour selling briefly lowered prices to $0.42, followed by a rebound suggesting easing selling pressure.
Corporate Technical Indicators Signal Consolidation Phase
- Robust institutional support established around $0.42.
- Resistance tested near $0.43 during overnight trading.
- Trading volume peaked at 71.43 million during initial decline.
- Critical resistance at $0.50 represents key breakout threshold.
- Indicators suggest advancement towards $0.60-$0.77 price targets.
- Diminishing final hour trading volume signals market stabilization potential.
