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Stellar (XLM) Is Going For A Genuine Rally In The Cryptocurrency Market

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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.

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Stellar

Stellar (XLM) Falls to Trade at the Previously Formed Support Around $0.055

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  • Stellar trades at $0.055; holds a strong bearish outlook
  • The month of December started with a fall, as the price of XLM dropped from $0.059 to $0.055
  • The technical indicators exhibit the selling pressure and lack of support from the moving averages
  • Stellar currently trades below 23.60% Fib Retracement level, manifesting a bear candle formation

Stellar started the last trading month of the year on quite a declining note. Having fallen from $0.059, XLM is trading below the said price since the first day of December and currently trades at $0.055. In the previous 30-day time frame, XLM has hit the lowest at $0.0535 after having hit top formed by a bullish green candle at $0.090 on Coinbase.

The downtrend below $0.057 was experienced just yesterday, wherein $0.055 was expected to be a major support. However, Stellar price has currently shifted towards previously formed major support areas.

Stellar Price Prediction

Stellar News
XLM Chart By TradingView

Taking a glance at the daily movement of XLM/USD over the past six months, we see that the coin is on a downswing in the whole timeframe after soaring at $0.170071. This was just when BTC had hit $13,000, and now when BTC price is around $7,200 price area, XLM is at $0.055. The least recorded trading price in 6 months, creating a double bottom, is $0.05258. Having made a failed attempt to rise initially in the previous month above $0.090, Stellar trades with over 38% decline recorded.

XLM News
XLM Chart By TradingView

Similarly, when we investigate the 30-day trading timeframe, XLM/USD is forming a declining trend only, just as it manifested in a longer time frame. The current trading area is lacking strong support since it has slid to the previously formed support. The nearest support at present is by 5-day EMA at $0.056. The downward stride is quite emphasized and swift, as noticed from the above-given chart.

Technical Indicators:

Stellar Lumens News
XLM Chart By TradingView

The technical indicators form a similar picture, making the selling pressure prominent as the RSI of the XLM coin is at 38.49 at the press time and is inclined to the oversold region.

The MACD of Stellar Lumens is running below zero and has a bearish crossover as the signal line seems to have overpowered the MACD line.


Source: cryptonewsz

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Stellar Kick Starts December on a Bullish Note; Lacks Stability above $0.057

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  • XLM was above $0.057 till today morning; recently started a downtrend
  • The coin seems to have support levels between $0.055 and $0.056
  • Stellar has recently formed a bullish candle while technical indicators give a mixed signal
  • The coin is striking a fresh increase as the month starts

Stellar’s price path looks a bit down as compared to the last week of November; however, the coin started a fresh increase yesterday. Today, the coin has broken below the $0.057 price mark.

XLM price initially traced a strong price fall from above $0.0573 to $0.0553 within around four hours. With a steady rebound, the coin managed to reclaim the price range above $0.057, with a surge of 4.09%. A notable price correction near $0.0565 took place in Stellar’s price trend. After this, the coin maintained a mild uptrend till it closed with a weak pullback. Despite the pullback, the coin remained above $0.057 till it closed.

It is today when the price of Stellar has started a bearish price move, though it has formed a bullish candle recently. The coin, at 05:13:44 UTC, is trading at $0.0566 near the Fib retracement level of 38.20%. The Fib retracement level of 61.80% poses as a support level.

XLM/USD Price Chart
XLM Price Chart by TradingView

The Bollinger Bands are forming a narrow pattern indicating a less volatile spell for the XLM coin. Meanwhile, SMA lines have just formed a death-cross noting a negative sign. RSI is near 37 showing no extremities at the moment. However, MACD is heading towards the bullish zone with its MACD line on the upside.

Stellar Lumens is likely to see support levels at $0.0597, $0.0614, and $0.0630 and support levels at $0.0564, $0.0548, and $0.0531.


Source: cryptonewsz

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Stellar News Today – Headlines for November 29

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  • Stellar and Ripple lead the list of the worst performing digital assets for the year
  • Rest of the crypto market see slight signs of recovery over the year

Stellar News Today – It is that time of the year when the performance of digital currencies is analyzed. This time there are no surprises on the list as assets like XRP and Stellar lead the way. According to the report, altcoins like XRP, Tron, Stellar, and Cardano are among the worst-performing cryptos for the year (year-to-date). This happened in a year when the entire market including the leader, Bitcoin made up for what was lost during the extended bear season.

Stellar (XLM) Price Today – XLM / USD

NamePrice
Bitcoin$7,738.012.46%
Stellar$0.0590.709%

In most cases, altcoins are down by 99% from their ATH positions. A fund that comprises of BTC and others is still down by 81% from a January 2018 initial investment. Deflation has almost decimated the altcoin market. It took the price of BTC from $20,000 to $3,100 before it rebounded to $14,000 this year in what was described as a parabolic rally.

Even though Bitcoin made up lost ground this year, it didn’t manage to set a new ATH. The coin is now trading at half of the price it was at its peak point this year. Despite this, BTC tops the list of the best performing tokens for this year after posting a 92% return on investment.

Rest of Market Shows Meager Price Improvements          

The list of the worst-performing assets comprises of altcoins that were hyped and tagged as the next big thing, ready to take the crypto space by storm. Those promises have turned out to be broken dreams as many of the tokens from the bull-run are down by 80% from their ATH with an awful 2019. Litecoin, Bitcoin Cash, Monero, and Ethereum, posted small gains. But they failed to come close to their all-time high positions.

Ether, the second largest crypto by market cap, which was among hyped coins, only recovered 7% through the year. The number three cryptocurrency Ripple is among the market’s worst-performing crypto. The list shows that the number one worst performing altcoin is Stellar.

Stellar didn’t perform impressively as it dropped another 50% of its value throughout this year. The coin even burnt half of its supply yet it failed to revive interest in the crypto space. XRP is number two having struggled all year despite mass adoption and partnerships. This means XRP has set a new low this year by falling by as much as 39% through the year.

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