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Upgrades in altcoins can have significant consequences on prices. Network improvements are of critical importance. Networks that enhance capabilities and modernize to attract more users are preparing for the upcoming or anticipated major bull season. Stellar (XLM) is one of them.
Stellar (XLM) Network Upgrade
Stellar Development Foundation identified a low-risk bug in the planned network update. The issue, detected on January 25, led to the postponement of the update following community feedback. An initial target date beyond January 30 will be set.
Blockchain ecosystem supporter Stellar Development Foundation announced in their latest statement that they found a bug in the Stellar Core v20.1.0 software. Theoretically, the bug could affect applications and services on the new “Soroban” smart contract transactions when the upgrade occurs.
Regardless of the situation, a fix for the bug is expected to be completed within the next two weeks. So even if the January 30 date is missed, we will see this update completed by mid-February.
Stellar, one of the oldest blockchains created in 2014 as a fork of the Ripple protocol, has lost popularity over the years with the rise of competitors. The latest update aims to increase the network’s functionality by making it compatible with Ethereum contracts.
XLM Coin Price Prediction
The price turned from the resistance of the parallel channel influenced by the BTC decline and tested the $0.1098 support. We had seen many reactionary rises from this point in the past. The expected has not happened yet, but the channel’s resistance could be overcome in the next 2 weeks with the impact of the update.
Although most altcoins have made impressive gains since December, XLM Coin has remained relatively weak. This needs to change. If the $0.1252 region can be reclaimed, we could see the price rise to $0.1367, then to $0.1466 and $0.172.
Since November, the price has tested the resistance of the parallel channel three times, and those who evaluated the price regions during fluctuations made profits. Now, on the fourth attempt, breaking the resistance could open the door to new peaks. Of course, the overall market sentiment will be decisive at this point.
