Stellar (XLM) Eyes $0.57 Recovery as Rails Launches Institutional-Grade Vaults

Stellar (XLM) showed early signs of recovery on Saturday, February 7, as Rails unveiled its institutional-grade vaults built on the Stellar blockchain. 

According to the crypto analyst Jonathan Carter, as of Saturday, February 7, buyers are stepping in at this crucial support zone, absorbing selling pressure and setting the stage for a potential recovery. Jonathan Carter sees this as a key moment for momentum to shift.

Source: Jonathan Carter X Post

XLM bounced at a key support zone near $0.145, absorbing selling pressure while traders monitor volume for confirmation. 

If the rebound sustains, XLM could target resistance levels at $0.200, $0.255, $0.310, $0.380, $0.470, and $0.570, signaling a possible momentum shift and temporary recovery for XLM participants.

Also Read: Stellar (XLM) Targets $0.10 Support as Price Slips Below Neckline Resistance

XLM Technicals Indicate Cautious Optimism

According to TradingView, as of Saturday, February 7, XLM’s position below important EMAs like 20, 50, 100, and 200 implies a short-term downtrend for XLM. 

The 20 EMA at $0.16228 represents immediate resistance, and Bollinger Bands indicate high volatility for XLM. The bounce from the lower band at $0.14535 implies near-term oversold conditions with bearish momentum.

Source: TradingView

XLM may be able to rise further if it stays above the 20 EMA and the middle Bollinger band. It may be able to reach levels of $0.172-$0.176 with the help of the 50 EMA and Bollinger Band. 

Failure to hold levels of $0.145-$0.147 may cause XLM to fall further to levels of $0.137, thus enhancing its downtrend.

Rails Unlocks Deep Liquidity with Stellar Vaults

On Saturday, February 7th, Rails launched Institutional Grade Vaults on the Stellar network. Institutional-grade vaults allow for institutional participation with secure and scalable crypto storage and liquidity for derivative markets.

By leveraging the power of the fast and interoperable Stellar blockchain technology, Rails enables greater efficiency, transparency, and strength while connecting traditional finance with the power of blockchain technology. 

This launch marks a significant step towards the institutional adoption of XLM and reiterates Stellar as a reliable crypto infrastructure, while expanding the global market reach of Rails.

Also Read: Stellar (XLM) Jumps 7% as $0.183 Breakout Signals Potential Reversal