Today is proving to be another difficult day for all cryptocurrencies and digital assets. Considering how things are not looking all that great on the hourly charts things can easily swing in either direction. For the XLM price, the recent uptrend pushed the value above $0.15 again, even though there is no gain or loss in BTC value. That makes for an interesting trend in many different ways.
XLM Price Reclaims $0.15 for now
The past week has been rather disastrous for most cryptocurrencies and digital assets. That is not necessarily surprising whatsoever, as most of these markets derive value directly from Bitcoin itself. XLM Has proven to be no exception in this regard, as its value dipped to the low end of $0.13 a few days ago. It seems that is now a thing of the past following today’s uptrend.
In the past 24 hours, the XLM price has gained 8% in USD value and remained flat in BTC value. That latter part is pretty interesting, especially when considering how assets and altcoins usually derive value from their BTC ratio directly. At the same time, both XLM and XRP have shown a tendency to ignore Bitcoin’s overall trend more often than not. How this particular push will pan out in the coming days, is difficult to predict.
When looking across social media, it is evident this positive momentum has gotten some people rather excited. Cyptocurrencyaustralia purchased some chap XLM as well as other currencies to flip for a higher price. Short-term profits are still the main objective for a lot of cryptocurrency enthusiasts and traders first and foremost, Buying XLM and quickly flipping it will certainly achieve that goal, albeit not necessarily in the BTC department.
Bought some #xrp #xlm #vet #med / #medx just this morning Australia time. Nibbled at some #omg as find that interesting. Some real quality coins there V – #zil had a great day! https://t.co/VHj79WJeCb
— cryptocurrencyaustralia (@BTCandCryptoOz) November 28, 2018
A similar positive sentiment is echoed by ETN 911RS2. This particular trader is confident Bitcoin will moon again, whereas Litecoin, XLM, and ETN will see similar trends. A very optimistic outlook, considering how all of these currencies and assets have seen their fair share of setbacks in recent months. It is certainly possible all of them will rise side-by-side, but for now, the uneasy situation remains in place.
I think #bitcoin will
all the others? I don’t care
— ETN 911RS2 (@ETN911RS2) November 28, 2018
Not everyone is confident this current recovery period will remain in place for very long. If Bas Haenraets is to be believed, the momentum will turn around fairly quickly, as it has all of the telltale signs of a “dead cat bounce”. A rather depressing outlook, although it is also one of the more realistic opinions given the current conditions. Even so, some optimism would be more than welcome.
Dead cat’s bounce. #xlm
— Bas Haenraets (@Bas72) November 28, 2018
Considering how all of the markets are evolving in the past few weeks, things are not looking all that great right now. For the XLM price, sustaining a value of $0.15 is not all that easy, especially if the XLM/BTC ratio remains rather flat. That doesn’t mean nothing big will happen moving forward, though, but for now, things simply are not looking all that attractive. With the weekend not that far off, now is the time to make some big movements, either for XLM or any other asset tracked on Coinmarketcap.
Stellar Lumen (XLM) Price Could Continue Higher Towards $0.1400
- Stellar lumen price formed a solid support near $0.1180 and traded higher against the US Dollar.
- XLM price broke the key $0.1200 and $0.1250 resistance levels to start an upward move.
- There was a break above a major bearish trend line with resistance at $0.1250 on the 4-hours chart (data feed via Kraken).
- The pair is currently struggling to clear $0.1300, above which it could rally towards $0.1400 or $0.1500.
Stellar lumen price is trading with a positive bias above $0.1250 against the US Dollar. XLM price is likely to break the $0.1300 barrier and extend gains towards the $0.1500 level.
Stellar Lumen Price Analysis (XLM to USD)
This past week, stellar lumen price climbed higher steadily against the US Dollar. Earlier, the XLM/USD pair formed a solid support near $0.1180 and later traded higher. It remained stable above the $0.1220 level and the 55 simple moving average (4-hours). Moreover, it broke the 23.6% Fibonacci retracement level of the downward move from the $0.1443 high to $0.1169 low.
Finally, there was a break above a major bearish trend line with resistance at $0.1250 on the 4-hours chart. The pair even traded above the $0.1280 level and recently spiked above the $0.1300 resistance. It seems like the 50% Fibonacci retracement level of the downward move from the $0.1443 high to $0.1169 low is acting as a strong resistance for the bulls.
If there is an upside break above $0.1300, the price could continue to rise in the near term. An immediate resistance is near the $0.1340 level. It represents the 61.8% Fibonacci retracement level of the downward move from the $0.1443 high to $0.1169 low. If the price accelerates above $0.1340, it could rally towards $0.1400 or even $0.1420.
On the downside, an initial support is near the $0.1280 level. If the price starts a downside correction below $0.1280, it could test the $0.1250 support. The 55 simple moving average (4-hours) is also near the $0.1240 level to act as a support. Therefore, dips from the current level may perhaps find a strong support near $0.1250 or $0.1240.
The chart indicates that XLM price is placed in a decent uptrend above $0.1250 and $0.1280. If the bulls gain strength above $0.1300, there could be continuous gains. The next stop for them could be $0.1400 or even $0.1450. On the downside, a close below $0.1240 might negate the bullish view.
4 hours MACD – The MACD for XLM/USD is currently gaining strength in the bullish zone.
4 hours RSI – The RSI for XLM/USD is currently well above the 50 level, with a positive bias.
Key Support Levels – $0.1280 and $0.1250.
Key Resistance Levels – $0.1300, $0.1340 and $0.1400.
Stellar Price Prediction And Analysis For June 14th – XLM Backed by the Support
The Stellar is trying to get further up, while the traders are not being much active late this week. On Friday June 14, the XLM is trading around $0.1266.
The Stellar has been inside a correction triangle for two months; this triangle is a descending one, but the support at $0.1161 is very strong. The price is quite unlikely to break it out, but still, if this happens, the next target will be at $0.1060. Conversely, if the XLM hits the resistance at $0.1300, it may then get to $0.1622, especially in case the Stochastic forms a golden cross.
On H1, the Stellar is testing the resistance area around $0.1300, which may lead to the price going down to the support at $0.1161. The Stochastic has meanwhile entered the overbought area and is getting ready to form a black cross, which will signal yet another downside move.
The Stellar Development Foundation announced a new protocol update that is designed to boost the transaction speed and the network performance, which, in its turn, should boost the coin price. The new duplicate protocol 11 is to change the transaction operation scheme in Stellar blockchain, as well as to increase the throughput, which was very much necessary time ago. Finally, the protocol may allow the users to create better apps.
The changes in the protocol enable wider use of smart contracts, as well as creation of buy bids, while the coding process is to get much easier. This is called ManageBuyOffer. Previously, only sell bids could be created. Boosting transaction speed is a side effect. The interface won’t change much, while the buyers will be now able to see how much of an asset they are going to buy.
The XLM did not react much to the news, but, in the longer term, it must have a positive effect.
Stellar (XLM) Price Reaches $0.13 on Top Exchanges
Stellar (CURRENCY:XLM) traded up 2.3% against the US dollar during the one day period ending at 19:00 PM E.T. on June 12th. During the last seven days, Stellar has traded up 2.9% against the US dollar. Stellar has a market cap of $2.44 billion and $439.34 million worth of Stellar was traded on exchanges in the last day. One Stellar coin can now be purchased for $0.13 or 0.00001550 BTC on popular cryptocurrency exchanges including GOPAX, C2CX, CoinEgg and Stellar Decentralized Exchange.
Here’s how similar cryptocurrencies have performed during the last day:Get Stellar alerts:
- XRP (XRP) traded up 1.3% against the dollar and now trades at $0.40 or 0.00004910 BTC.
- Binance Coin (BNB) traded up 6.9% against the dollar and now trades at $34.42 or 0.00424593 BTC.
- Bitcoin SV (BSV) traded up 1.4% against the dollar and now trades at $189.63 or 0.02330926 BTC.
- Tether (USDT) traded down 0% against the dollar and now trades at $1.01 or 0.00012362 BTC.
- TRON (TRX) traded 5.5% higher against the dollar and now trades at $0.0331 or 0.00000408 BTC.
- NEO (NEO) traded up 3.3% against the dollar and now trades at $12.78 or 0.00157639 BTC.
- COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
- Crypto.com Chain (CRO) traded up 0.8% against the dollar and now trades at $0.0678 or 0.00000836 BTC.
- Basic Attention Token (BAT) traded 1.9% higher against the dollar and now trades at $0.33 or 0.00004106 BTC.
- VeChain (VET) traded up 1% against the dollar and now trades at $0.0076 or 0.00000093 BTC.
Stellar was first traded on July 19th, 2013. Stellar’s total supply is 105,062,532,892 coins and its circulating supply is 19,399,417,541 coins. Stellar’s official Twitter account is @stellarorgand its Facebook page is accessible here. The official message board for Stellar is stellarcommunity.org. The Reddit community for Stellar is /r/stellar and the currency’s Github account can be viewed here. Stellar’s official website is www.stellar.org.
Buying and Selling Stellar
Stellar can be purchased on the following cryptocurrency exchanges: ZB.COM, OTCBTC, CoinEgg, HitBTC, Vebitcoin, Bitbns, Cryptomate, Poloniex, Liquid, CryptoMarket, BitMart, Stellar Decentralized Exchange, Upbit, Kryptono, ABCC, OKEx, Koinex, C2CX, Ovis, Koineks, Exrates, Kraken, Bitfinex, RippleFox, Gate.io, BCEX, Kuna, Exmo, Binance, Bittrex, Stronghold, Kucoin, CEX.IO, Sistemkoin, Stellarport, GOPAX, Indodax and Huobi. It is usually not possible to purchase alternative cryptocurrencies such as Stellar directly using US dollars. Investors seeking to trade Stellar should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Stellar using one of the aforementioned exchanges.