XLM Breakout Gains Momentum as Stellar Network Activity Surges

XLM price surged 6.84% on September 22nd, pushing the token back towards $0.22 after weeks of subdued price action.

Buyers reclaimed $0.2000 and entered the $0.2020-$0.2075 demand zone, instead of rejecting it like before.

The recent price rise was significant because the zone had previously been a breakout point in August, and this time buyers successfully retested it.

Increased volume during the price rise added credibility to the breakout and indicated broadening investor participation.

XLM is currently trading down towards $0.2118 at press time, making it likely that the reclaimed zone will be tested again.

If XLM can hold above $0.208, the uptrend will still be intact, and there may be another test of $0.2227.