Stellar Lumens (XLM) Upward Trend: Will it Continue?

Stellar Lumens (XLM) at the Cusp of Bullish Breakout

As we approach the end of an 18-month bullish formation, Stellar Lumens (XLM) may be on the verge of a significant upward trend. The decentralized network created by the Stellar Development Foundation has recently been gaining attention from the financial industry, with TASCOMBANK, a Ukrainian bank, announcing its successful testing of the Stellar network and recommendation of its use in improving the payment network in Ukraine.

Recent XLM Price Movement

Despite losing value after reaching $0.798 in May 2021, XLM has broken out of its previous downtrend and regained support, indicating a potential bullish pattern. However, technical indicators such as the weekly RSI have not yet confirmed this trend.

Short-term Outlook

In the short term, we may see a pullback before a potential breakout from the downtrend. The next resistance level is $0.13, and if the price drops below $0.084, it could fall to $0.062. It is important to note that cryptocurrency prices are highly

This article was originally published on BeInCrypto, and updated by me.