Stellar would be ready to take off after a double floor
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Stellar (XLM) could find resistance between 0.30 and $ 0.35.
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The token and the use of stablecoins in Stellar boost demand for XLM.
A technical analysis pattern could be anticipating an important rebound in the price of Stellar cryptocurrency (XLM).
As can be seen in the graph below, the price of XLM completed a double mild land, which It usually has a price movement towards rise. The first floor was recorded on March 31, when it reached USD 0.22 and then bounced to USD 0.30.
The second took place on June 16, when the cryptocurrency backed up to the USD 0.22, before bouncing again and reaching the USD 0.24, at the end of this report.
In cryptocurrency trading, a double bullish double soil pattern such as the previous which shows that buyers are taking control.
However, although everything points to a price increase, there is a possibility that cryptocurrency find resistance between USD 0.30 and USD 0.35as happened on February 24, when the price of the asset fell to USD 0.26 from USD 0.348 (this is because support and resistance zones tend to be repeated).
In general, real -world assets tokenization (RWA) and the use of stablcoins in Stellar are the factors boost demand for XLM.
According to the estimates of the analysis and research firm of the Messari cryptocurrency market, in May of this year USD 528.8 million were issued in RWA in Stellarbeing the third largest network in this niche.
As defined by cryptopedic cryptopedics, RWA are cryptographic tokens that represent tangible assets that exist outside the digital field such as works of art, real estate properties, raw materials or goods.
On the other hand, Stellar reported a total market capitalization of USD 168.8 million, which is an increase of 15% year -on -year. To this is added that more than 98% of the market capitalization of the Stellar Stellar is USDC, the stable cryptocurrency issued by Circle and the second largest for market capitalization.
