Stellar Network Sees New Adoption by WisdomTree Prime
Stellar (XLM) price trades near $0.37 within a falling wedge pattern on Wednesday. This pattern suggests a possible bullish breakout soon.
Denelle Dixon, CEO of the Stellar Development Foundation, shared on X that WisdomTree Prime is using the Stellar network. They plan to list digital funds that track the stock market. Dixon called this move “a huge step in the right direction.” She added that the Stellar network “has been ready for this development.”
This news follows Nasdaq’s recent filing with the US Securities and Exchange Commission (SEC). Nasdaq aims to tokenize stocks, allowing investors to trade equities on traditional markets or on-chain. If approved, Nasdaq would become the first US stock exchange to offer tokenized securities.
Stellar could benefit from this shift. Its tokenized asset infrastructure offers faster settlement and better regulatory alignment. This could give Stellar an advantage over competitors. Dixon’s comments show confidence that Stellar is well-positioned to grow with this trend.
Stellar Price Outlook: Bulls Target $0.45
Stellar price is trading inside a falling wedge pattern formed since mid-July. On Wednesday, XLM nears the upper trendline of this pattern. A breakout above this line could trigger a bullish move.
If XLM breaks above the upper trendline and closes above its 50-day Exponential Moving Average (EMA) at $0.38, the price may rise toward resistance at $0.45.
The Relative Strength Index (RSI) is at 47, close to the neutral level of 50. This suggests bearish momentum is weakening. For a strong rally, RSI needs to move above 50. The Moving Average Convergence Divergence (MACD) showed a bullish crossover on Monday. This gives a buy signal and supports the bullish outlook.
However, if XLM fails to break above the upper trendline, it may drop toward support at $0.35.
