Yesterday, Stellar Lumens, just like most altcoins, picked up the pace and started trading higher against the USD. This was encouraging to traders since the price of Stellar has been recording loses for weeks now. While the recent gains are encouraging, a Stellar Lumens price analysis on Cryptolithy.com states that Stellar Lumens price is still performing poorly from January to May. The cryptocurrency is yet to breakeven for the year. So, investors who bought XLM in January are currently losing. In the Stellar Lumens news today, we are going to consider when the possibility of the price of Stellar hitting its yearly high and when this is going to happen.
Stellar Lumens News Today – Stellar Lumens Price Prediction – XLM Price Prediction – When Will Stellar Breakeven?
In the beginning of the year, the price of Stellar Lumens was $0.112. At the time of writing, XLM was trading at $0.102037. This means that it is up by 4.43% against the USD and down by 3.93% against the price of BTC. The trading volume over a 24 hour period is $393,639,042 and the market capitalization is $1,957,539,094. This means that even if it is higher within a 24 hour period, it is down by more than 10% between January and now. Investors are still wary about when the price of Stellar Lumens will breakeven for the year and start recording gains. The good news is that the price of Stellar has moved above the immediate resistance at $0.102. So, it needs to gather enough momentum to move above the next resistance at $0.1171.
Stellar (XLM) Price Today – XLM / USD
When the price of Stellar finally breaks above the resistance at $0.1171, the next resistance will be at $0.119. Moving above this resistance is the only way the price is Stellar Lumens is going to breakeven this year. Many analysts believed that it would happen during the recent surge but the bulls seem to be cooling off and Stellar was only able to break one resistance. On the down side, the is a strong support for the $0.090. If a price correction starts and the price of Stellar Lumens fall below this support, the next support will be at $0.0755.
Stellar Lumens News Today – Stellar Lumens Price Prediction – XLM Price Prediction – What Is Fueling The Price Action Of Stellar?
There are several factors that are responsible for the price action of Stellar. Fundamentally, Stellar has a strong foundation. These are the factors the will fuel a more sustainable bull run for Stellar Lumens this year. However, these fundamentals are not entirely responsible for the current positive trend of Stellar Lumens. Right now, the Bitcoin bull run is the main factor that is fueling the price of Stellar and other altcoins. Stellar will be able to breakeven in the next 2 to 3 months when real fundamentals come to play.
What do you think about the XLM price prediction in our Stellar Lumens news today? Share your thoughts in the comment section below.
Poloniex Exchange Successfully Distributes Over 1.2 Million XLM To Its Users via Stellar Inflation Rewards
According to a recent tweet from the official account of crypto exchange Poloniex, more than 1.2 million Stellar Lumens (XLM) has been distributed to many Poloniex users who hold Stellar as part of the Stellar Inflation Rewards, a collaboration between the exchange firm and Stellar Lumens.
What is a Stellar Inflation Reward?
Earlier in May, Poloniex announced a reward system for XLM holders. Basically, the Stellar network runs with a voting system. This system gives the right to a single vote, for every holder of a unique XLM token.
If a holder continues to accumulate enough to be entitled to at least 0.05% of the voting power on the Stellar network, the Network would then issue said holder new XLM tokens at the rate of 1%, as a reward. In summary, as long as you can vote 0.05% of the network, you get credited with 1%.
According to the announcement, Stellar is living up to its promise and has already given out 1.2 million XLM – roughly $96,000. The announcement also answers a few queries in the form of a Frequently Asked Questions (FAQ) format.
It states Tuesday as the official weekly payday for all Stellar holders who meet the requirements at the time of the weekly balance snapshot which will happen every Monday at 8 pm ET.
It also states that for eligibility, a holder must have at least 1 STR in their Poloniex account at the time of the Snapshot. Furthermore, Poloniex customers are expected to verify their eligibility by signing into the platform.
Any accounts not in good standing, including closed or frozen accounts, automatically lose their eligibility. Most importantly also, Stellar inflation will be restricted from certain prohibited jurisdictions as specified in the Poloniex User Agreement. Some of these places include China, Germany, Pakistan, Vietnam, and New York.
Poloniex also notes that the process is free of charge and automatic for eligible account holders. However, it clearly does not take a stand with regard to whether or not these bonuses are taxable. Instead, the page says “we recommend reaching out to a tax professional for more information.”
Stellar Price Prediction: Is Stellar Lumens Finally Out Of The Bearish Market
The price of Stellar Lumens has just started rising. Stellar has actually impressed a vast number of traders despite fears of an impending crypto winter. It should be recalled from an earlier report from July 15, that market experts and traders have expressed concerns that the current state of the crypto market could lead to a crypto winter.
For that market report, coins like Ether, Cardano and Bitcoin were discussed. All the top coins had lost a huge chunk of their value on July 15. Stellar is one of a few tokens that haven’t really been hit hard by the ongoing crisis. When the majority of the coins were losing pace or falling, the price of XLM kept going up although slowly.
The momentum of the Stellar Lumens token is remarkable. Experts agree that the price of the digital assets will soon touch a new weekly high.
How XLM Price Performed Via the Daily Chart
Today, XLM traders are eyeing a bigger digit for Stellar in a bid to recover from the coin’s recent price drop. There is optimism for a future upsurge. Let’ see what the XLM/USD daily chart says.
Yesterday’s price for XLM reflects a price upsurge via the chart. The day’s opening price for the Stellar coin was the $0.08495 area. The coin’s closing price was at the $0.08716 area. The intraday chart for the XLM/USD pair recorded a 2.58% upsurge in price. Yesterday was a power-packed day for the Stellar coin.
There were many heavy movements. The first price drop took place in the early trading hours when the price of Stellar dropped took to the $0.08178 area from $0.08495.
Stellar Has Been on the Rise in Last 24 Hours after Several Slips
The price of Stellar also endured a 6% drop. The coin then made three jumps back to the top. The first upsurge was 5.30%. The price of XLM moved from the $0.08196 area to the $0.08631 point. The second price jump took XLM from the $0.08367 position to the $0.08615 area. This price surge was 2.97%.
The last leap for the price of XLM was 3.72%. This move took the price of Stellar Lumens from $0.08335 to $0.08645. The price of the digital asset opened today with a slight drop. It reportedly slipped from the $0.08716 area to the $0.08554 position. This price regression was 1.85%.
Stellar Price Prediction 2019
The price action of Stellar has pushed it into the list of the top 10 largest cryptocurrencies by market cap. The same thing has attracted many investors to the path of the digital currency. Stellar holds very high potential for the future. Otherwise, the issue of keeping the price upwards in the current market drop (and handling market pressure with bravery won’t be possible).
XLM proponents and experts alike are anticipating that the price of the coin would cross the $0.2 mark by the end of this year. The long-term investment plan for XLM I ideal. Because it will help traders fill their pockets very well with high profits. So now may be a good time to buy and stack up XLM to enjoy maximum profits.
Stellar Price Analysis – XLM Well Supported After the Recent Heavy Decline
|Key XLM resistance levels:||$0.098, $0.106, $0.115, $0.131|
|Key XLM support levels:||$0.077, $0.074, $0.071, $0.07|
*Price at the time of writing
Stellar price long-term trend: Bearish
With the recent heavy decline in the crypto space, most of the major cryptocurrencies have seen a severe loss over the past few weeks. While some coins are turning down to key supports, others are almost falling back to 2018 lows. The Bitcoin BTC, 0.97% price drop has been a major setback for some of these top crypto projects against USD, although the reverse is the case for some altcoins when considering their BTC pairs.
We can see on the daily chart that Stellar Lumens XLM, -1.11% trading took a nosedive from the long-term rising channel formation after a serious bearish scenario, causing the market to floor at $0.0816. Here, the yellow falling trend line acts as firm support.
A possible rebound could bring the market to retest the $0.098 area. Buying pressure may further propel the price to the $0.106, $0.115 and $0.131 levels. We can now see that the Stochastic RSI is on the rise with positive signs.
The Stellar market is now well-supported at the yellow trend-line, as confirmed on the RSI 30 level. An oversold RSI might slip the price to the $0.077, $0.074, $0.071 and $0.07 support levels.
Stellar price medium-term trend: Bearish
Taking a look at the 4-hour price chart, we can see the XLM trading volume is fading away as the price continues to fall. The market has turned on a downward spiral as the price action remains in a falling channel formation since the sudden bearish surge in late June.
Following the weekly short opening, the Stellar price has been subdued with choppy action. Up until now, the market remains indecisive. While consolidating, the bulls may power the market to $0.09, $0.093 and $0.095, meeting the channel’s resistance boundary.
Alternatively, if the sellers turn active, the XLM price may drop to explore the $0.083, $0.08 and potentially $0.077 supports, flooring at the channel’s support boundary. As of now, the token is deciding on the next move. However, the RSI is currently moving in a sideways trend, reflecting an indecisive market.
The Stochastic RSI has signaled a bullish cross. But now, the market is positioned at the 30 level, indicating a minor accumulation stage for the Stellar market. We can expect a price surge soon.
Stellar price short-term trend: Bearish
From the short-term perspective, the price of Stellar has continued to fall as the market maintains a falling channel formation. After testing the channel support boundary during yesterday’s trading, the XLM market saw a rebound as the price rose to the current level of about $0.086.
We can expect the market to continue rising towards the $0.088, $0.09, $0.092 and $0.094 resistances if the bulls remain active in the market. The hourly RSI is climbing steadily, showing positive signs. Considering the hourly Stochastic RSI, the token is falling at the oversold area. We can expect a price drop to $0.085, $0.083, $0.08 and possibly below.