The cryptocurrency that has risen to a three-month high is named

Cryptocurrency analysts have drawn attention to altcoin, which managed to reach a three-month high. We are talking about the cryptocurrency Stellar (XLM), which at the end of last week was trading at its highest level since April.

On June 30, Stellar was trading at $ 0.109. However, on the night of Monday, July 3, the cryptocurrency corrected to $ 0.106, currently trading at $ 0.108. Its capitalization at the time of publication is $ 2.9 billion.

The rise in the spot price of altcoin has led to increased interest in Stellar futures. The amount of open contracts in early July rose to $ 43 million, according to the CoinGlass platform. The last time open interest in XLM futures was at this level was in October 2022.

Stellar’s resistance zone has formed around $ 0.115. According to experts, the altcoin will need a strong push to overcome the pressure and make a new breakthrough.

It is worth noting that Stellar was included in the list of Finbold analysts who identified several virtual coins that cost less than $ 1 and can bring profits to investors. According to NebraskanGooner, a crypto trading expert, XLM is «experiencing a big surge and outshines many other well-known altcoins,» so investors should consider buying XLM.