XLM Price Fit Sharp Up 31% as Stellar Transactions Surge
Stellar Lumens (XLM) don form one falling wedge chart pattern, wey mean say e fit breakout go up. XLM price don drop 97% from di yearly low but e fit rebound by 31% reach $0.5183. For di past 30 days, Stellar network transactions jump 14% reach 81.2 million, plus active addresses rise 81% to 515,000. Network fees climb 120% to $201,000. Stablecoins supply for Stellar also grow 21% to $209 million, and transaction volume go up 22% to $1.9 billion. One big catalyst na the Protocol 23 upgrade. Testnet reset and stable builds dey scheduled for August 14, plus mainnet vote dey come on September 3. Traders suppose watch out for breakout pass di falling wedge for more gains.
Bullish
Di falling wedge chart pattern dey usually bullish, e dey show say XLM price fit break out strong. Historically, similar patterns for Ethereum and Bitcoin dey come before big rallies. The recent golden cross still support the bullish outlook since the 50-day moving average crossover pass the 200-day average. On-chain metrics still dey positive: network transactions rise by 14%, active addresses increase by 81%, plus fees jump 120%, all dey show say user adoption dey grow. Stablecoin supply for Stellar rise 21%, e boost utility and volume. Plus, the Protocol 23 upgrade wey dey come soon na catalyst near term, testnet go reset for August 14, mainnet vote for September 3. Short term, traders fit see breakout pass the falling wedge target of $0.5183. Long term, steady network growth plus successful upgrade go fit support further gains above $0.6365.