Stellar (XLM) shows a long-term bullish structure with key resistance zones acting as supply that must be reclaimed for further upside for the XLM price toward prior cycle highs. Mastercard is also using Stellar-based stablecoin systems to enable faster, real-time global settlements beyond traditional banking hours.
At the time of writing, XLM is trading at $0.1878 with a 24-hour trading volume of $207.32 million and a market capitalization of $6.34 billion. Despite the 1.06% decline over the last 24 hours, the XLM price structure and network adoption point to a bullish reversal ahead.
Source: CoinMarketcap
Also Read: XLM Price Could Surge to $5 After MoneyGram Stablecoin Launch
XLM Price Structure Signals a Move Toward $1.70
According to the crypto analyst chief of overthinking, the XLM price setup exhibits a structure of a much higher time frame, which greatly differs from the prevailing one in the short term.
Whereas the attention of traders is concentrated mainly on price levels below $0.20, the picture on the chart demonstrates how high above these critical zones the current market environment operates.
Resistance at $0.63 and $0.79 are two crucial points on the XLM price chart. They have been distribution zones where intense selling occurred.
These points are places where there was supply, and thus, the XLM price remembers them and tends to revisit them before breaking out. They serve as traps for liquidity and indicate that price will revisit them before continuing in any direction.
Source: chief of overthinking’s X Post
However, if XLM price takes advantage of this and consumes these levels, then the structure would be open towards higher cyclical goals, such as the test of the 2021 highs at around $1.70.
In doing so, the XLM price structure presents an opportunity whereby there is still strong upside ahead even though volatility dominates.
Stellar Boosts Mastercard Real-Time Settlement System
The data from Stellar further highlighted that the Mastercard Settlement System now incorporates intraday transactions into its system in addition to weekend and holiday card transactions through the use of regulated stablecoins.
This advancement minimizes the dependence on conventional bank working hours and batch windows, making possible rapid liquidity transfers and almost instant transactions around the world.
Source: Stellar’s X Post
Based on programmable payments technology, the association with Stellar ensures uninterrupted settlement that surpasses limitations imposed by conventional banking.
This is complemented by stablecoins that enable rapid, visible, and automated value transfer. Mastercard is preparing itself for a world of settlement that works round the clock, ensuring smooth transactions, which makes life easier for banks and merchants.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Stellar (XLM) Shows Early Reversal Signs While Long-Term Targets Reach $5
