Stellar bulls eye rebound as TD Sequential flashes weekly buy signal
PositiveCryptocurrency
- Stellar has generated a fresh TD Sequential ‘9’ buy signal on its weekly chart, indicating potential bullish momentum for its cryptocurrency, XLM. This signal follows a previous setup that led to a significant rally, although confirmation of this trend will depend on market demand.
- The recent uptick in XLM's value, which has reached $0.251, is significant as it reflects increased trading volume and consolidation around the critical support level of $0.25. This development is further bolstered by U.S. Bank's selection of the Stellar network for a stablecoin pilot, enhancing its credibility.
- The broader context reveals a growing institutional interest in Stellar, as evidenced by U.S. Bancorp's initiatives to explore stablecoin payments on the Stellar blockchain. This trend highlights a shift towards the adoption of public blockchains by major financial institutions, suggesting a potential transformation in digital asset transactions and the overall cryptocurrency landscape.
— via World Pulse Now AI Editorial System
