Stellar is a payment network that allows you to exchange value in a secure, fast, and low-cost way. It is built in partnership with IBM, it is a decentralised protocol that uses blockchain technology.
Kicking off the week with a bang, Stellar’s price went up ~30% over the past 24 hours, from around $0.24 to ~$0.33, which is a ~3.3x increase in price. This is fairly impressive given that the cryptocurrency was only listed on the Stellar Decentralized Exchange (SDEX) yesterday. Stellar is a blockchain which is designed to make cross-border transactions cheaper and faster. While the Stellar network is not as popular as that of Ethereum or Bitcoin, it still has a lot going for it.
Stellar is a blockchain-based protocol for transferring money quickly and reliably. Stellar is aiming to take over the role of the current dominant payment protocol, Visa, and aims to be the ideal platform for banks, payment processors, and even the unbanked.. Read more about stellar price prediction 2030 and let us know what you think.Summary of the situation
- Stellar price analysis shows that XLM’s upside momentum is waning.
- The fatigue of bullish momentum is leading Stellar to a possible correction.
- The emergence of buyers on the recent surge could lead to a further 30% increase.
- If Stellar breaks the $0.298 support level, a bearish scenario could emerge.
Yesterday was a pretty good day for Stellar Lumens, as well as many other crypto-currencies on the market. However, based on the appearance of red candles on the 24-hour price chart, the exhaustion of buying pressure seems clear. With this development, Stellar could break out to the downside to retest the recent low or go to its immediate support line.
Stellar price analysis: Price Overview
Strong price movements between the 8th and 10th. In June, prices rose by 18%. This increase came at a time when Stellar was experiencing the effects of a huge price drop. For this reason, market participants seem eager to sell cryptocurrencies or lock in their profits, which will likely lead to a rebound. A sharp price decline will likely push the crypto asset towards the immediate $0.334 support line or collect cash below the $0.324 swing low. The increase in liquidity will give investors an additional boost that could push Stellar 24% up towards the 50% Fibo retracement level. Currently, the 50% Fibo retracement level coincides with $0.403. Despite this outlook, Stellar bulls could reach $0.435, up 30% from the current price of $0.33. If this happens, XLM could reach the $0.46 price level, which coincides with the 79% Fibo retracement level.
Stellar price movement in the last 24 hours
Source: TradingView In Wednesday’s trading session, Stellar was up 5% after rising 1% on Tuesday. During Tuesday’s trading session, the cryptocurrency ended the day at $0.3653. As for today’s trading session, Stellar started the day bearish and fell to an intraday low of $0.3245 before recovering. After beating the first major support level at $0.321 and the 62 percent Fibo retracement level at $0.322, Stellar price rallied to a late intraday high of $0.37. On the 24-hour chart you can see that XLM broke through the $0.36 resistance level before falling back to the current buy price. At the time of writing, Stellar is down about 2%, with key support and resistance levels intact.
4-hour program Stellar
Source: TradingView Although Stellar’s 4-hour chart is currently in a bearish trend, an upward move seems likely once the crypto finds a stable pivot point. However, now that the cryptocurrency has crossed the $0.35 mark, we are seeing a further drop in price. If Stellar continues its downtrend, the cryptocurrency will likely form a 4-hour candle with a close below the $0.3 support line. This invalidates all bullish stories. If that happens, XLM could fall 8% and hit a low of $0.27.
As with all cryptocurrencies, Stellar bulls have the opportunity to accumulate more shares and resume bullish momentum. If Stellar breaks above $0.35, it will be on track to reach its $0.40 price target by the end of the week. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.This is a preview of the full article found at noirds.com.. Read more about xlm news today and let us know what you think.
Frequently Asked Questions
Can stellar lumens reach $100 2020?
Stellar is a cryptocurrency that is slightly older than Bitcoin, but has a lot of potential for growth. One of the reasons this cryptocurrency is so popular is that it actually has a use case. It is primarily being used to facilitate cross-border payments between financial institutions and the people that use their services. However, Stellar has no central authority, and will not be controlled by any government. This makes it a much safer cryptocurrency than Bitcoin, and many people have no problem investing in it. When you hear the term “lumens”, you know it’s going to be a cryptocurrency. That’s the case with Stellar Lumens (XLM), the open-source blockchain platform that focuses on financial services. It’s an all-in-one technology that enables people to send money to each other, execute microtransactions, and maintain a digital ledger of all transactions. The Stellar network is built using the open-source protocol of the blockchain, which not only provides trust but allows an individual to create their own smart contracts.
Can stellar hit $10?
Stellar is a good cryptocurrency and has been performing really well over the last few months. However, it is still very young and needs a bit more time to reach its full potential. Right now, it is trading at around $0.51 and is in its early stages. It has reached a lot of milestones in the last few months, and even though it is still a young project, it is still doing pretty well. As the market cap of Stellar (XLM) grows and more and more projects get built on its network, we can only hope that the price of the Lumens (XLM) will follow along. Today the Lumens token is valued at $0.24, which means that it is currently trading at 30% of its maximum possible price. This really isn’t unusual for Stellar, though, as the coin has been showing good signs of growth.
Is Xlm a good investment 2020?
Yes, the crypto market is volatile, but I believe XLM is still a good investment in the long term. Stellar (XLM) is a secure and stable cryptocurrency that’s similar to Bitcoin and Ethereum in the sense that it enables fast and cheap transactions, but it’s created on the basis of a unified blockchain (which allows it to scale much better). Stellar is also a payment network, with the possibility to store and transfer value internationally, and it operates as the “bridge currency” for a number of decentralized applications, making it an excellent choice for cross-border payments. The Stellar price has been all over the map lately with a few dips but overall it has been moving in a bullish trend. The price has been on a nice upswing with a steady rise over the last month. One of the main things that has helped Stellar market price to move higher is the fact that it is now available on Coinbase. The Stellar price has been on a nice upswing since its listing on Coinbase.
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