Stellar (XLM) has been an outsider in the cryptocurrency market, even though it is an XRP (XRP)-like crypto coin, lessening the cross-border payments. However, the XLM has always remained behind the Ripple’s crypto, mostly because it wasn’t capable of reaching the same level as the Ripple’s XRP (XRP) cryptocurrency.
When looking at the cryptocurrency market’s graphs, we can see Cardano (ADA), Bitcoin (BTC), and Ethereum (ETH) as the most valuable players in the market, but Stellar (XLM), the outside of the crypto verse, is still there, competing with the major digital coins in the market.
As it seems now, Stellar (XLM), which is currently trading at $0.1102 as it considerably dropped in the last day, is going to rise in the following days. Today, June 28th, Stellar (XLM) trades at $0.1102, as we mentioned above, and experiences a 3.36% surge in the last 24 hours. The downtrend XLM suffered it most probably due to the drop of Bitcoin (BTC) which significantly shed today before recovering.
Stellar (XLM) Is Going For A Genuine Rally In The Cryptocurrency Market
How is Stellar (XLM) going to bull the cryptocurrency market? Well, it seems not to do that, but the XLM struggles to surpass the $0.13 mark, and it will do that soon. The 12th crypto in the market by market cap, totaling $2,140,913,690, Stellar (XLM) maintains is momentum against UNUS SED LEO, Monero (XMR), and DASH (DASH).
Even more, Stellar (XLM) is going to outperform TRON (TRX) and Cardano (ADA), as it is only at a little more than $80 millions behind TRX and about $140 millions below ADA, respectively.
Well, although the Stellar (XLM) shows a downtrend in the cryptocurrency market, the XLM is doing well, as it might indeed jump above the resistance level of $0.13. Once it has achieved that, Stellar (XLM) would sum up some considerable gains in the short term. Accordingly, those investors who put some money on the XLM will soon withdraw some profit, or at least that’s what the Stellar (XLM) graph shows.
Stellar price forecast: Bullish pressure likely on XLM after price correction
Sellar is testing the $0.080 resistance level; if the bulls break the initial resistance level, XLM’s price will rise and reach a high of $0.09 price level.
- The demand zone of $0.07 holds as the bulls marked an upward move
- XLM market is facing resistance at the $0.08 price level
- Stellar Lumens native crypto, XLM’s price is likely to rise to the previous high of $0.09 price level
Stellar Current Statistics
The current price: $0.074
Market Capitalization: $1,467,975,839
Trading Volume: $56,933,556
Major supply zones: $0.09, $0.1, $0.11
Major demand zones: $0.07, $0.06, $0.05
Stellar (XLM) Price Analysis
The price of Stellar has reached the demand zone of $0.070 price level. The $0.070 support level is holding as the bulls struck an upward move to the previous high. In the previous low of July 16, the $0.080 support level was held as the bulls claimed an upward move but were resisted at the $0.10 price level.
This resistance resulted in the price to fall to the present low at $0.072 but before the support level at $0.070 price level. Today, the coin is testing the $0.080 resistance level; if the bulls break the initial resistance level, XLM’s price will rise and reach a high of $0.09 price level. On the other side, if the bulls break above the $0.09 price level, the crypto will continue its upward move.
Chart Indicators Reading
Meanwhile, the XLM price is out of the oversold region of the Stochastic indicator, and it is above the 25% range. This indicates that buyers are likely to emerge, and it also shows a bullish signal. The bulls break the lower trend line, and the candlestick closed on the above it.
This is an indication that the bullish trend is likely to continue. The 12-day alongside 26-day EMA is still trending and pointing southward (indicating the downward direction). On the other side, if the bulls manage to break above the EMAs, the cryptocurrency’s price will be in the bullish trend zone.
General Outlook for XLM
The coin is likely to rise if the bulls manage to sustain the price above the lower trend line. Similarly, if the bulls break the initial resistance at the $0.08 price level, Stellar (XLM) will continue the bullish movement. On the other hand, if the bears break below the lower trend line again, the market will resume its downward trend.
Stellar Price Analysis: Stellar (XLM) Price Slips Down Again; Market Pressure Rules The Coin
- Stellar (XLM) comes under market pressure.
- The price embarks the downtrend again.
Stellar was seen improving yesterday, but the coin has again started moving downwards. The coin was expected to keep the momentum tight, but the market pressure has forced to let it loose. The traders were quite positive about the coin, but it seems like the investors need to wait a little longer to witness the price rally in Stellar. The coin holds pretty good future prospects, but the intraday investors will not be seen benefiting from the coin today.
Current Statistics of Stellar:
- The current trading price of the coin is $0.07582600.
- The ROI (Return on investment) stands at 2412.65%.
- The coin is currently ranked at 11th position in the crypto market.
- The currently circulating supply is 19,633,172,523 XLM whereas the total supply stands at 105,243,009,213 XLM.
- The 24hr volume is noted as $57,178,901.
- The market cap is at $1,467,943,362.
XLM to USD Price Comparison:
The chart is taken from Trading View as on 13th August 2018, at 05:27:45 UTC.
The three-day chart is indicating an escalation in the coin’s price. On 11th August, the coin jumped from $0.073 to $0.080 by 9.19%. The coin then declined from $0.080 to $0.077 by 3.15%. The coin booked an escalation of 5.76% as the coin closed around $0.077. On 12thAugust, the price changed from $0.077 to $0.075 by 2.58%. The coin is currently trading at $0.075.
Stellar Price Prediction and Conclusion:
Stellar (XLM) would again see the rising sun in the upcoming days. The traders who have lost their hopes would be seen returning to Stellar with their investments in the near future. The coin has great potential. Stellar Lumens, the parent company behind the currency is making continuous efforts to enhance the popularity of the coin. We have heard about the promising upgrades that would take the price up in the future. The coin is likely to trade around $0.2 by the end of 2019. The long-term investment would bring a colossal amount of profit.
Stellar releases key updates as Saldo.mx plans to issue an asset on Stellar Network
Stellar, currently ranked 11th in the crypto rankings with a market cap of $1.5 billion, recently revealed the developments undertaken over the past month.
Stellar released a plethora of updates in the month of July, which included the likes of the Horizon 0.19.0, Stellar Core v.11.3.0 and the Stellar Ticker v.1.1.0. The community also managed to successfully reset the Stellar test network which took place on July 31, at 09:00 UTC.
In keeping with the progress on the technical front, Stellar was currently being used by Saldo.mx, a platform facilitating cross-border payments in Latin America. Marco Montes Neri, co-founder of Saldo.mx, recently explained that the company was issuing an asset on the Stellar network that was pegged to the Mexican peso.
“In order to transform how remittances work, we need these irreversibility and transparency that open ledgers like Stellar offer. Stellar is very optimized for payments. We don’t need smart contracts, complex capabilities, but we need efficiency.”
Personalities associated with Stellar were also active as Denelle Dixon, CEO of the Stellar Development Foundation releases a medium post about blockchain policy.
In her article, Dixon spoke on a collective basis for blockchain and virtual assets and indicated that currently there was a “confusion, misinformation, and concern” regarding using blockchain and crypto for payments. She said,
“We want to help clear up confusion and alleviate concerns through engagement with the ecosystem, policymakers, and regulators alike. For us, success would be a shared understanding about the application of existing rules and a clear idea of where new rules may be necessary.”