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A brief analysis of the $0.50 resistance of the Stellar token XLM.
$XLM ✨💥✨💥✨💥
#StablecoinLaw During the last month, the performance of the Stellar token XLM exceeds +83.4%. It is one of the most notable rallies among mid-cap coins, meaning those that are outside the top 10. However, this explosive performance contrasts with the strong resistance that the coin faces at $0.50.
This level has consolidated as a key turning point for the future pricing of the token and market sentiment. So far in July, Stellar has experienced a rise of over 100%, driven by factors such as the integration of payment services and the expansion of its ecosystem.
The price reached a maximum of $0.50 before experiencing a slight correction, although buying interest and volume remain high. By the end of 2024, the coin also featured a strong rally that brought it to $0.56 per token. However, that peak was brief and soon returned to below that psychological ceiling.
Now, recent history seems to be repeating itself and the Stellar token (XLM) has not been able to consistently surpass the aforementioned resistance level. At the time of writing this note, the price of the coin is $0.457, with a correction of -2.4% in 24 hours, according to CoinMarketCap data.
