Protocol 28 upgrade boosts Stellar price toward key resistance

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Stellar jumps 9.53% today to $0.2092

Highlights

Stellar has activated Protocol 28 on its mainnet, adding new consensus and contract-migration features to enhance developer and enterprise adoption.
The network processed 211 transactions per second over 100 blocks and supports $3.3 billion in tokenized assets plus $884 million in stablecoin supply.
XLM trades with strong bullish momentum and is projected to trade between $0.1986 to $0.2163 over the next several sessions.

Expanded adoption outlook as protocol upgrade broadens Stellar’s use cases

Stellar has implemented Protocol 28 on its mainnet, integrating new consensus tools and contract-migration features that broaden the protocol's capabilities and can encourage greater adoption by both developers and enterprise clients, according to Coin Turk. This upgrade is likely to expand the scope of decentralized applications and facilitate seamless migration across contract frameworks, appealing to projects seeking improved scalability and functionality. Additionally, Stellar's processing of 211 transactions per second over a 100-block window—as well as its support for $3.3 billion in tokenized assets and nearly $884 million in stablecoin supply—showcases both the technical throughput and the scale of digital assets circulating on the network, reinforcing the ecosystem’s draw for further on-chain activity.

Bullish momentum confirmed as price tests overbought readings

On the hourly timeframe, XLM trades above the MA-20 ($0.1969) and MA-50 ($0.1953), while the daily chart shows price comfortably above the MA-200 ($0.1767). The Ichimoku Kijun at $0.1948 provides immediate support. Momentum indicators align to the upside, with MACD and ADX both in buy territory. RSI reads 61.76, suggesting positive outlook but with Stochastic RSI and CCI in overbought territory, caution for new entries is warranted. Bull/Bear Power remains positive, while the Awesome Oscillator continues to confirm bullish momentum.

Consolidation range likely as current momentum limits downside risk

In the short term, the likely scenario is price consolidation within the $0.1986 to $0.2163 range, consistent with typical volatility. Should XLM achieve a close above $0.2163, further upside could emerge as buyers push beyond resistance. Alternatively, a retreat below $0.1986 would expose the pair to deeper retracement, although the probability of such a downward move remains low based on current momentum signals.

Anton Kharitonov, expert at Traders Union, notes that Stellar’s Protocol 28 upgrade is a clear catalyst for recent bullish sentiment, together with robust transaction data and stablecoin growth. However, he sees current technicals showing overbought signals and potential resistance near $0.2163. Base case is short-term consolidation unless buyers can force a sustained breakout. "Until XLM closes above $0.2163, I remain defensive and expect a sideways market in the near term."

Earlier, analysts noted that technical momentum and institutional engagement were driving a bullish outlook for Stellar. The successful rollout of Protocol 28, alongside demonstrated network throughput and expanding tokenized asset flows, strengthens this view and positions $0.2163 as a critical level to watch for potential upside continuation.

Source of Data: XLM Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.