What to know:
- XLM price is showing renewed bullish momentum as buyers regain control and selling pressure begins to ease.
- A bullish chart structure has traders watching the XLM price for a potential move toward the $1 level.
- RedStone’s support for Ondo Finance’s USDY adds reliable pricing infrastructure to Stellar’s expanding DeFi ecosystem.
Stellar (XLM) is showing signs of renewed bullish momentum as buyers regain control, while Stellar’s DeFi ecosystem expands through RedStone’s support for Ondo Finance’s USDY. The integration could improve access to reliable pricing data and strengthen USDY’s utility across decentralized financial applications.
At the time of writing, XLM is trading at $0.1648 with a 24-hour trading volume of $62.92 million and a market capitalization of $5.67 billion. Following the 2.35% gain over the last 24 hours, the XLM price structure and network expansion point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: XLM Price Eyes $0.90 as Breakout Pattern Emerges After Long Consolidation
XLM Price Eyes $1 as Bullish Setup Emerges
According to the data from Celal Kucuker, XLM is showing a potentially bullish chart structure, prompting traders to watch the token for a move toward the psychologically important $1 level.
The current setup suggests selling pressure may be easing while buyers gradually regain control. If momentum continues strengthening, XLM could challenge key resistance levels and establish a stronger foundation for a broader breakout.
Source: Celala Kucuker’s X Post
A sustained move above major resistance would be crucial for validating the bullish outlook and opening the path toward $1.
Rising trading volume and continued buyer interest could strengthen the breakout scenario, while a loss of key support would weaken it. For now, market participants are closely monitoring XLM’s structure as momentum develops further.
Stellar Expands DeFi With Ondo USDY Support
The data from RedStone further highlighted that the expansion of the Stellar network’s DeFi capabilities is achieved via RedStone integrating the Ondo Finance USDY token on the network with a USDY/USD price feed and support for SEP-40 contracts.
With this integration, applications built on the Stellar network gain standardized access to pricing data, which might facilitate the adoption of USDY by decentralized finance applications.
Source: RedStone’s X Post
The new product helps to further develop the real-life asset ecosystem of Stellar by linking a yield-generating tokenized asset with the necessary DeFi infrastructure.
The use of an oracle for obtaining reliable information may be helpful for deciding on collateral valuation, borrowing capacity, and liquidation points. With the help of RedStone, USDY might be used more widely within the Stellar DeFi environment.
What Happens Next?
The future action of XLM will be contingent on whether buyers will be able to sustain momentum and breach past certain levels of resistance.
If there is a volume-based breakout, then there would be more conviction in the trend towards $1, but if there is continued selling pressure, the price may retrace back to support.
Also Read: XLM Price Eyes $0.191 Breakout as Stellar Network Transactions Hit Weekly High
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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