CandleFocus

Stellar Lumens recovery stalls but more gains can’t be ruled out

Author: Content Editor
Stellar Lumens (XLM) has reached its highest level since October 1, driven by a new partnership with Mastercard. Stellar Foundation and Mastercard will integrate Mastercard's Crypto Credential solution into the Stellar network, helping to verify interactions between consumers and businesses using blockchain. This partnership follows Stellar's previous partnerships with MoneyGram and Franklin Templeton. However, Stellar's total circulating supply of nearly 30 billion tokens and potential dilution in the future pose challenges for Stellar holders. The XLM token has faced resistance at the 100-day moving average and the $0.096 level, but positive indicators such as the Relative Strength Index crossing the neutral level and the formation of an inverse head-and-shoulders pattern suggest momentum for further gains. Confirmation of Stellar's gains would come with a move above the $0.10 level.

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