Stellar’s Wild Ride: From Rock Bottom to the Moon? 🚀

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Ah, Stellar Lumens. Once the darling of the crypto world, now it’s just another altcoin trying to keep its head above water. Much like Cardano and Avalanche, it’s been on a downward spiral, leaving investors wondering if they should’ve just stuck with Bitcoin. 🥴

As of Sunday, Stellar (XLM) was clinging to the $0.25 support level like a drunk clinging to a lamppost. A far cry from last year’s high of $0.6380, which now feels like a distant memory. Nostalgia, anyone? 😢

But wait! On-chain data suggests that not all is lost. Transactions have surged by 24% in the last week, hitting 21.5 million. Over the past month, they’ve jumped by 30% to 70.5 million. Stellar, it seems, is still one of the busiest chains in the crypto world. Who knew? 🤷‍♂️

Active addresses in the Stellar ecosystem have also seen a 15% bump, reaching 162,947. And guess what? Weekly transaction fees have skyrocketed by 105%. Cha-ching! 💰

DeFi Llama reports that stablecoins in the Stellar ecosystem have hit a record high of nearly $300 million, mostly in USD Coin. That’s a massive leap from the $104 million in November last year. Someone’s been busy! 🏦

Stellar Price Analysis: The Good, the Bad, and the Ugly

The daily chart paints a grim picture. XLM has plummeted from its November high and is now below the 61.8% Fibonacci Retracement level. To make matters worse, a death cross is looming as the 50-day and 200-day moving averages converge. Sounds ominous, doesn’t it? ☠️

But wait, there’s a glimmer of hope! The token might be forming a falling wedge pattern, which often leads to a bullish breakout. Remember the Pi Network price? It rebounded on Saturday, so there’s that. 🌈

There’s also a potential double-bottom pattern forming at $0.2282, with a neckline at $0.30. If XLM can hold above this level and avoid the dreaded death cross, we might just see a bounce back. More gains could be on the horizon if it breaks above the wedge pattern. Fingers crossed! 🤞

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2025-04-06 15:32