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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 Price Exhibits Improved Price Momentum; Trades Around $0.064

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Stellar price is indicating towards having a profitable end for the intraday traders. The investors of Stellar were seen suffering from quite some time while the ongoing month has brought a steadiness at the trading price. The same has deteriorated the profit quotient.

The future expectations are quite high from Stellar as per the anticipations that price would move up as Stellar Lumens has entered a few ventures that are quite promising. In the upcoming time, the ventures are ought to give a long-lasting effect and the coin is expected to rank among the top 10 cryptocurrencies of the global market.

XLM to USD Price Analysis:

Stellar graph seems to have quite a flattening price trend. The last month spotted an upsurge between October 16 and 18 when the price jumped from $0.058 to $0.089 marking an escalation 54.12%. Later, the currency fell to $0.050 by 42.59%. The price recovered and closed the month at $0.062. In the ongoing month, the coin started climbing after a few bumps. The counters changed from $0.057 to $0.065 by 12.98%. Later, the price moved from $0.059 to $0.066 by 15.62% and the month has recorded a 6.86% profit until now.

The MACD lines are moving up with the upward moving histogram, placed slightly above zero with a bullish crossover.

Stellar price
XLM Chart By TradingView

XLM is slowly moving towards the immediate resistance level at $0.066518. The next level is formed around $0.06811 which also seems possible for XLM to break. However, if Stellar is unable to move forward and break the resistance level, then the immediate support is created at $0.061759.

Resistance LevelPrice
R1$0.066518
R2$0.06811
R3$0.071277
Support LevelPrice
S1$0.061759
S2$0.058592
S3$0.057

Stellar is a volatile coin. Hence, the currency is recommended for short-term investors. The long term investment might be a little dicy for the investors, thus we do not vote for the same.

Source.cryptonewsz.

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Stellar

Stellar (XLM) Price Exhibits Possibility to Escape From Bearish Trend

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  • Stellar breaches its immediate resistance level at $0.061
  • Intraday trading might be profitable for traders

Stellar is indicating towards a profitable intraday movement as the coin trades around $0.061. It has already breached its immediate resistance and moving towards the next at $0.063. The last level marked around $0.064. The movement in the price is indicating towards a flourishing day.

However, the market is bearish, there are chances that Stellar comes under market pressure and falls. The price might slip. In that case, XLM coin would find the support at $0.058. If the same continues, the coin can get the next support at $0.057 and the last at $0.055.

XLM Price Analysis:

XLM Price Analysis
Stellar Price Chart By TradingView

The price was at $0.062 at the beginning of last month. With a slight uptrend and later a fall, Stellar booked a major escalation of 54.29% on September 18, 2019. XLM price counters moved from $0.058 to $0.089. The price couldn’t hold itself and fell to $0.051 by 42.59%. The last few days of the month booked recovery of 20.81%. The price moved to $0.062 and closed with a slight loss of 0.38%. In October, the first few days brought a drop of 6.26%. The price moved from $0.062 to $0.058. Thereafter, the price moved up to $0.064 from $0.058 by 10.69%.

Stellar is quite a volatile coin. The recent movement in the price has changed the momentum. The currency is seen trading at $0.060. However, there is also a slight uptrend noted in the XLM. The future of the coin is promising. Yet, the recent days could expect a downfall or a less profitable day.

XLM coin is mostly recommended for short term traders due to its volatility. The long-run might carry some risk, hence we do not vote for the same.

Source.cryptonewsz.

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Stellar

Stellar (XLM) Price Exhibits Possibility to Escape From Bearish Trend

Published

on

  • Stellar (XLM) breaches resistance level 1 at $0.061
  • Intraday trading might be profitable for traders

Stellar is indicating towards a profitable intraday movement as the coin trades around $0.061. It has already breached the resistance level 1 and moving towards the next at $0.063. The last level marked around $0.064. The movement in the price is indicating towards a flourishing day.

However, the market is bearish, there are chances that Stellar (XLM) comes under market pressure and falls. The price might slip. In that case, XLM would find the support at $0.058. If the same continues, XLM can get the next support at $0.057 and the last at $0.055. Let’s take a look at the price chart.

XLM to USD Price Analysis:

XLM Price Analysis

The price was at $0.062 at the beginning of last month. With a slight uptrend and later a fall, the price booked a major escalation of 54.29% on September 18, 2019. The price counters moved from $0.058 to $0.089. The price couldn’t hold itself and fell to $0.051 by 42.59%. The last few days of the month booked recovery of 20.81%. The price moved to $0.062 and closed with a slight loss of 0.38%. In October, the first few days brought a drop of 6.26%. The price moved from $0.062 to $0.058. Thereafter, the price moved up to $0.064 from $0.058 by 10.69%.

Stellar is quite a volatile coin. The recent movement in the price has changed the momentum. The currency is seen hovering around $0.060. However, there is also a slight uptrend noted in the coin. The future of the coin is promising. Yet, the recent days could expect a downfall or a less profitable day.

Stellar is mostly recommended for short term traders due to its volatility. The long-run might carry some risk, hence we do not vote for the same.

Source.cryptonewsz.

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