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Huge Expectations For Stellar (XLM) Amid Strong Push For Mass Adoption

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Every now and then, we hear stories of how XLM is about to go on a bullish charge. However, that hasn’t quite happened yet. In fact, Stellar is yet to perform as good as Ripple’s XRP. That’s despite the fact that the two projects are very similar. Ripple has positioned itself as one main and very direct competitor to Stellar.

Still, that’s not to say that Stellar isn’t preparing for something big. If the current hype around the crypto is to be believed, XLM is about to take off massively. In fact, according to some experts, XLM could soon hit the highs of $1.

Partnerships

The team at Stellar has been working tirelessly to get the project onto the global stage. Stellar has entered into various beneficial partnerships in various countries across the world. These partnerships are aimed at creating in-roads into the global financial market to make it easier for the project to market itself and attract a mass following. 

One of the most notable partnerships that Stellar has scored is with IBM. If this works out well as it did for the likes of Microsoft, then there’s no denying that XLM could be the next crypto to watch. Stellar has scored some serious partnerships in Africa and South America. 

Usefulness Will Create Demand

At the moment, XLM sits at position 11 on the charts, while its main competitor, XRP, is at position 3. That means Stellar has a long way to go before it can dislodge XRP from that top position. XLM currently trades at around $0.1, but that’s expected to surge upwards as Stellar scores more partnerships and comes with more use cases for the crypto. 

As is always the case, the more it’s useful, the more a cryptocurrency gets adopted, and the more its demand rises. A rise in demand is always followed by a price spike.

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Stellar

Stellar’s Very Own Lightning Torch Has Been Showing Off Its Network Efficiency

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  • A scheme called the Lightning Trust Chain was started at the beginning of the year by a big cryptocurrency fan.
  • It started to gain some traction across the industry.
  • The bitcoin torch was a success and so with that, the Stellar Foundation took some ideas and has been running its own version of the “torch”.

A scheme called the Lightning Trust Chain was started at the beginning of the year by a big cryptocurrency fan nicknamed hodlonaut and it started to gain some traction across the industry. It then became known by many as the Lightning Torch. This torch was a way to test Bitcoin’s new second network layer that promised to give better scaling and quicker transactions at much lower costs.

So for those who don’t know, the “torch” was passed from one person to another, with each individual pitching in 10,000 Satoshis into the account. The funds later were accumulated and then sent to the Bitcoin Venezuela initiative when the testing the torch ended back in the Spring.

The bitcoin torch was a success and so with that, the Stellar Foundation took some ideas and has been running its own version of the “torch”. This was done as a way to show off its network efficiency with the initiative being started by a user called, Wouter Arkink back in summer.

As per ZyCrypto:

“Everyone passing the torch has to use Keybase, an end-to-end suite of apps adopted by the Stellar community. However, one doesn’t have to really be on Keybase to receive the torch. A friend can pass the torch to someone on Twitter, in which case the person can receive it once they get on Keybase. Stellar also uses the apps in its airdropping campaigns.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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Stellar Lumen (XLM) Price Could Dive Before Fresh Increase

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  • Stellar lumen price is struggling to climb above the $0.0565 and $0.0580 resistances against the US Dollar.
  • XLM price is currently trading in a range above the main $0.0535 support area.
  • There is a major bearish trend line forming with resistance near $0.0562 on the 4-hours chart (data feed via Kraken).
  • The pair could dive towards $0.0520 before it starts a fresh increase towards $0.0620 and $0.0650.

Stellar lumen price is showing bearish signs against the US Dollar and bitcoin. XLM price must surpass the $0.0620 resistance to move into a positive zone.

Stellar Lumen Price Analysis (XLM to USD)

In the past few days, stellar lumen price remained in a bearish zone below the $0.0620 pivot level against the US Dollar. As a result, the XLM/USD pair traded below the $0.0600 and $0.0580 support levels.

Moreover, the price settled below the $0.0580 level and the 55 simple moving average (4-hours). Finally, the price declined below the $0.0550 level and tested the main $0.0535 support area.

The recent low was near $0.0537 and the price is currently correcting higher. It is trading above the 23.6% Fibonacci retracement level of the recent decline from the $0.0597 high to $0.0537 low.

However, the price seems to be facing resistance near the $0.0560 level and the 55 simple moving average (4-hours). Besides, there is a major bearish trend line forming with resistance near $0.0562 on the 4-hours chart.

Above the trend line, the next resistance is near $0.0567. Additionally, the 50% Fibonacci retracement level of the recent decline from the $0.0597 high to $0.0537 low is at $0.0567.

A clear break above $0.0567 and a follow through above the $0.0580 resistance could push the price towards the main $0.0620 resistance area. Any further gains may perhaps lead stellar price towards the $0.0685 level.

An intermediate resistance is near the $0.0633 level since it is the 1.618 Fib extension level of the recent decline from the $0.0597 high to $0.0537 low.

On the downside, the main support is near the $0.0635 level. If there is a downside break below $0.0635, the price might test $0.0620 or even $0.0600 in the near term.

Stellar Lumen Price

Stellar Lumen Price

The chart indicates that XLM price is clearly trading in a bearish zone below $0.0565 and $0.0580. The current price action suggests the price could dive below the $0.0635 support area before it starts a fresh increase.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is currently showing a few bearish signs.

4 hours RSI – The RSI for XLM/USD is currently declining and it is just below the 50 level.

Key Support Levels – $0.0535 and $0.0520.

Key Resistance Levels – $0.0565, $0.0580 and $0.0620.

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Stellar Lumen (XLM) Price Could Dive Before Fresh Increase

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  • Stellar lumen price is struggling to climb above the $0.0565 and $0.0580 resistances against the US Dollar.
  • XLM price is currently trading in a range above the main $0.0535 support area.
  • There is a major bearish trend line forming with resistance near $0.0562 on the 4-hours chart (data feed via Kraken).
  • The pair could dive towards $0.0520 before it starts a fresh increase towards $0.0620 and $0.0650.

Stellar lumen price is showing bearish signs against the US Dollar and bitcoin. XLM price must surpass the $0.0620 resistance to move into a positive zone.

Stellar Lumen Price Analysis (XLM to USD)

In the past few days, stellar lumen price remained in a bearish zone below the $0.0620 pivot level against the US Dollar. As a result, the XLM/USD pair traded below the $0.0600 and $0.0580 support levels.

Moreover, the price settled below the $0.0580 level and the 55 simple moving average (4-hours). Finally, the price declined below the $0.0550 level and tested the main $0.0535 support area.

The recent low was near $0.0537 and the price is currently correcting higher. It is trading above the 23.6% Fibonacci retracement level of the recent decline from the $0.0597 high to $0.0537 low.

However, the price seems to be facing resistance near the $0.0560 level and the 55 simple moving average (4-hours). Besides, there is a major bearish trend line forming with resistance near $0.0562 on the 4-hours chart.

Above the trend line, the next resistance is near $0.0567. Additionally, the 50% Fibonacci retracement level of the recent decline from the $0.0597 high to $0.0537 low is at $0.0567.

A clear break above $0.0567 and a follow through above the $0.0580 resistance could push the price towards the main $0.0620 resistance area. Any further gains may perhaps lead stellar price towards the $0.0685 level.

An intermediate resistance is near the $0.0633 level since it is the 1.618 Fib extension level of the recent decline from the $0.0597 high to $0.0537 low.

On the downside, the main support is near the $0.0635 level. If there is a downside break below $0.0635, the price might test $0.0620 or even $0.0600 in the near term.

Stellar Lumen Price

Stellar Lumen Price

The chart indicates that XLM price is clearly trading in a bearish zone below $0.0565 and $0.0580. The current price action suggests the price could dive below the $0.0635 support area before it starts a fresh increase.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is currently showing a few bearish signs.

4 hours RSI – The RSI for XLM/USD is currently declining and it is just below the 50 level.

Key Support Levels – $0.0535 and $0.0520.

Key Resistance Levels – $0.0565, $0.0580 and $0.0620.

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