The Stellar (XLM) network is showing technical indicators of a potential bullish trend reversal, according to analysts. This comes as Malaysia’s Kenanga Investment Bank launches the country’s first tokenized investment funds on the Stellar blockchain, marking a significant step for traditional finance integration.
Stellar (XLM) is showing early technical signals that could indicate a new bullish phase. Analyst CW notes the price has retested its long-term lower trendline twice, a pattern that often precedes a weakening of selling pressure.
A green Heikin-Ashi candle has also appeared, which traders commonly associate with potential trend reversals. CW suggests that if buying volume rises and key resistance levels break, XLM could potentially rally toward $7 based on past cycle projections.
Momentum indicators are showing signs of improvement. The RSI is rebounding from oversold levels, though it remains below 50, indicating a cautious recovery.
The MACD is nearing a bullish crossover with a slightly positive histogram, signaling a potential shift from bearish to bullish momentum. However, the MACD’s proximity to the zero line suggests the upward move lacks strong conviction.
In a landmark development for traditional finance, Kenanga Investment Bank has launched Malaysia’s first tokenized money market funds on the Stellar network. Through its Myrra platform, Kenanga has digitized units of its Kenanga Money Market Fund and Kenanga Islamic Money Market Fund into regulated, tradable tokens.
According to crypto analyst Sammie, Stellar’s network enables quick, transparent, and low-cost settlements for these products. This move aligns with the Malaysian Securities Commission’s push to make the country a regional hub for blockchain innovation in capital markets.
