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 co-founder getting sued by ex-Mt Gox traders for losing 80,000 BTC
- Jed McCaleb founded Mt Gox before co-founding Stellar.
- Mt Gox was hacked in February 2014 for 850,000 BTC.
Jed McCaleb, the co-founder of Stellar and the creator of the infamous Mt Gox exchange, is getting sued over his handling of the exchange. Former Mt Gox traders Joseph Jones and Peter Steinmetz have accused McCaleb of being negligent in his administration of the exchange before selling it to Mark Karpeles. The exchange was hacked in February 2014, resulting in losses of 850,000 BTC, at the time worth more than $400 million.
The lawsuit states that McCaleb was aware of the Mt. Gox’s security issues back in late 2010 or early 2011 and “rather than secure the exchange, McCaleb sold a large portion of his interest in the then sole proprietorship, and provided avenues to the purchases to cover-up security concerns at the time without ever informing or disclosing these issues to the public.”
The plaintiffs described themselves as experienced cryptocurrency traders and they said that McCaleb reassured them about the exchange’s supposed security. The complaint also reads:
“Plaintiffs are further informed and on that basis allege, that McCaleb schemed with Karpeles about how to deal with the missing 80,000 Bitcoin and given the fact that Mt. Gox was already profitable in early 2011, that Mt. Gox would be able to easily recover or account for the missing 80,000 Bitcoin. These Bitcoin and hundreds of thousands of more Bitcoin would either be stolen, lost, or otherwise, and never recovered by Mt. Gox.”
Jones said he owned 1,900 BTC at the time of Mt. Gox’s bankruptcy in February 2014 (worth $24 million) and Steinmetz said he held 43,000 BTC (worth more than $542 million at today’s rates). Both men are still in pursuit of their lost funds and they said that they wouldn’t have used Mt. Gox if they were aware of its “significant security concerns.”
Stellar Lumen (XLM) Price Start Fresh Increase Above $0.1350
- Stellar lumen price is facing a few key hurdles near $0.1320 and $0.1345 against the US Dollar.
- XLM price is holding the $0.1250 support and it could continue to rise in the near term.
- There is a short term breakout pattern forming with resistance at $0.1280 on the 4-hours chart (data feed via Kraken).
- The pair is currently moving higher and it looks set for an upside break above $0.1300.
Stellar lumen price is gaining traction and it could climb above $0.1350 against the US Dollar. XLM price must stay above the $0.1200 level to remains in a positive zone.
Stellar Lumen Price Analysis (XLM to USD)
This past week, stellar lumen price gained tractionabove the $0.1300 resistance against the US Dollar. The XLM/USD pair even broke the $0.1320 resistance and settled above the 55 simple moving average (4-hours). However, the price failed to clear the $0.1345 and $0.1350 resistance levels. A swing high was formed near $0.1345 and the price recently corrected lower.
It broke the $0.1300 support to move away from the pivot levels. The price even traded below the 50% Fibonacci retracement level of the upward move from the $0.1204 low to $0.1345 high. Finally, there was a spike below the $0.1250 support, the 55 simple moving average (4-hours), and the 61.8% Fibonacci retracement level of the upward move from the $0.1204 low to $0.1345 high.
However, the $0.1244 level acted as a support. Moreover, the 76.4% Fibonacci retracement level of the upward move from the $0.1204 low to $0.1345 high also provided support. At the moment, the price is moving higher and is currently stable above $0.1250. Besides, there is a short term breakout pattern forming with resistance at $0.1280 on the 4-hours chart.
Therefore, it seems like the price is forming a breakout pattern either above $0.1300 or below $0.1250. If there is an upside break, the price could retest the $0.1320 or $0.1350 resistance. On the downside, the main support is near $0.1250, below which the price may slide towards $0.1180.
The chart indicates that XLM price is trading with a positive bias above the $0.1250 level. If there is a clear break above the $0.1300 and $0.1320 levels, the price is likely to gain bullish momentum. In the mentioned scenario, the price may even climb further above the $0.1400 and $0.1420 levels. The next key resistance is near $0.1500.
4 hours MACD – The MACD for XLM/USD is slowly moving in the bullish zone, with a positive bias.
4 hours RSI – The RSI for XLM/USD is currently just near the 50 level, with a positive angle.
Key Support Levels – $0.1250 and $0.1220.
Key Resistance Levels – $0.1300, $0.1320 and $0.1350.
Crypto Enthusiasts Forecast Potential 100% Stellar (XLM) Price Growth in a Month
Despite all misfortunes and the bearish mood on the market, Stellar will grow. When? Read XLM price forecasts from TradingView
How is Stellar doing? The world’s 10th largest cryptocurrency has been through bad times: it keeps falling in search of the second bottom, but traders claim that the accumulation phase is almost over. Soon, XLM is expected to surprise us. How exactly? Let’s check Stellar price forecasts from tradingview users.
Pump to $0.15 in June
As we know, Stellar depends on banking, and its project focuses on Decentralized Exchange, in which there are some projects (SLT and CLN).
SLT did a great job in the past year, but now it’s time for CLN, which is trading at around 0.21 XLM per coin. They are providing a platform to Freelancers. Cryptolancers (CLN) is recently listed on Stellarport, having high volume and best price. All of that has attracted big whales these days to invest in Cryptolancers. So the track of Stellar (XLM) can lead it to $0.15-0.16 in the end of June. So it’s better to keep both CLN and Stellar. Why? As the user predicted before, the price of CLN it will be 2 XLM in the upcoming month.
XLM/BTC prepares for amazing longs!
User ChaseWallace predicts a few amazing things for Stellar.
1st amazing buy would be right now with a stop under the bear market low (great risk/reward ratio).
The 2nd amazing buy would be the obvious next one when Stellar starts beating the first resistance lines.
There’s no explanation how this will go and when exactly it happens, but it’s clear that Stellar grants us cool trading opportunities.
The trend is reversing!
We know that Bottom Head & Shoulders Pattern has recently been formed, and the price failed to stay above the critical resistance levels (H&S neckline and the blue EMA 200). Currently, a potential wedge is forming up, and we should be bullish if the price breaks $0.132 with a final target of $0.19. We should short/stop if the wedge breaks downward.👉MUST READ
Bull flag pattern for XLM
The price chart from YMula provides us with a few trading tips: we should accumulate between $0.12-0.14 and release the sum between $0.18-0.20 to gain profits.
Head & Shoulders pattern – check it out!
This price chart proves that XLM is ready to go to the Moon! Good time for potential investments: there’s an H&S pattern that has formed. We should go long with pattern confirmation or accumulate before the break out, using stop-loss strategy.
Now when XLM has broken out of the triangle, it’s expected to move up even despite the recent pessimistic moods on the market. Many crypto experts and amateur users predict that XLM should hit the $0.25 target, thus, growing by 100%. Some traders claim that it should reach the $0.30 threshold in the short term.
The last broken wedge was followed by a strong sell off. Looks like the market needs to reset before rallying, so let’s see if history repeats and Stellar goes through another strong rally again.
As for XLM/BTC pair, we are waiting for a 4H price chart to confirm a bullish SFP, even after a double retest of the 4H pivot. Full confirmation of bullish period will be at 1476 satoshi with high bullish volume off of a bounce from here.