According to data, the Total Value Locked (TVL) of the Stellar (XLM) network has significantly increased to over $60 million, indicating a higher cash flow into the Stellar ecosystem. Some believe this growth is likely due to increased usage of blockchain-based financial services and decentralized applications (dApps) on the Stellar network. However, despite the growth in TVL, the price of Stellar has not increased proportionally. Currently, XLM is trading around $0.42 with resistance near $0.43 hindering further upward movement. On the other hand, the key support level is in the range of $0.36 to $0.34, aligned with the 100-day moving average. While the growth in TVL reflects increased investor confidence in the Stellar network and its projects, the XLM price has not shown a stable upward trend. This may be due to overall market uncertainty regarding altcoins. Nevertheless, if network activity increases and investor sentiment improves simultaneously, we may witness an improvement in the XLM price. To exit the current consolidation phase, XLM needs to reclaim the $0.44 level and establish stronger support above this level. If this trend continues, Stellar may reach its next target at $0.50, a significant psychological level that can attract more buyers. Visit the digital currencies’ real-time price page to monitor the prices of all tokens and cryptocurrencies live.
