Stellar Lumens (XLM) is a next-generation, open-source, global, decentralized network that connects people, payment systems and exchange. As the future of money, XLM is a bridge between crypto and fiat currencies, providing a fast, reliable and almost free way to send funds anywhere in the world.
A stellar price analysis, as per our analysis on the Price Prediction page. Or watch it in video format:
Stellar is a cryptocurrency that focusses on a highly scalable network of financial services. On July 21st, 2017 the Stellar Development Foundation (SDF) announced the release of the Stellar Consensus Protocol Testnet. This release essentially acts as a preview of the Stellar mainnet in 2018. Allowing traders to begin testing the Stellar network with their infrastructure and application.Summary of the situation
- The analysis of the Stellar price highlights the movement of the XLM price outside the symmetrical triangle.
- Despite the passage of the symmetrical triangle, the critical resistance barrier denies Stellar the chance for a price rise before it begins.
- Stellar has 2 bullish technical patterns covering its 12-hour candle, but they lack momentum.
- The 200-day simple moving average is currently the most important short-term support line for Stellar.
In early trading on Wednesday, Stellar saw positive price action with the prospect of an upward run. However, the lower trend line of the bearish channel seems to be resisting Stellar’s bullish outlook. Combined with a weak price recovery, Stellar is vulnerable to a significant price decline if the overall crypto-currency market goes into the red.
Stellar price analysis: Price Overview
During the recent stock market crash of 19. May Stellar lost value and broke through key technical levels. Some of the technical levels include the 50-day simple moving average (SMA), the lower trend line of the downtrend channel and the 200-day simple moving average. The market collapsed on the 19th. May was so severe for Stellar that the cryptocurrency dipped into one of the worst pockets of fear, wiping out even the weakest XLM holders. Fortunately for Stellar, the cryptocurrency saw a 50% rise in price, allowing it to break through the lower trend line of the bearish channel. Despite the positive price action, Stellar’s moment of respite was short-lived, as price took another hit that took it below its 19-month low. May submitted. This led to the evacuation of most of the remaining investors and prepared XLM to enter the race. Since then, Stellar has formed an ascending symmetrical triangle. Positive price action has continued since then, including a significant price rally in the 12-hour Stellar candle on the 1st. June. Nevertheless, the lower trend line of the descending trend channel has proven difficult to break through and has become a major barrier of resistance.
Strong price movement in last 24 hours
Source: TradingView Typically, a cryptocurrency must start the day at a lower price than the previous bar and close the day at a higher price than the opening price for a bullish takeover pattern to occur. The bullish acquisition pattern highlights the day the bears controlled the price of crypto currencies during the morning trading session. As the day progresses, the bulls take over. Consistent with previous patterns, bullish candles tend to be stronger when they follow a bearish leg. At the time of writing, Stellar’s exchange rate is approximately $0.418. The bulls are currently facing a difficult challenge to overcome critical resistance barriers, especially the trend line below $0.45. If Stellar manages to close the day above this critical level, the next resistance level to be broken will be the 38% Fibo extension level around $0.48. Coincidentally, the 38% Fibo breakout level coincides with the 200 12-hour simple moving average at $0.48.
4-hour program Stellar
Source: TradingView According to Stellar’s 4-hour chart, the Relative Strength Index (RSI) is currently around 44, showing that the crypto is in negative territory. This suggests that the cryptocurrency is currently dealing with an increased number of sell orders to give the bears a free hand. As for the MACD (Moving Average Convergence Divergence), Stellar is currently trading below the signal line, confirming the bearish outlook.
Stellar currently has strong support around $0.343. When the crypto-currency launches on the 19th. May drops to a low of around $0.3, the cryptocurrency could see a further price drop, which could be as much as 35% from the current price. 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.Onions are a type of vegetable with their own particular taste. They are mostly available at supermarkets, grocery stores, and through online vendors. They are a great and cheap source of dietary fiber, and they are very high in vitamins and minerals. Onions are a good source of potassium, which helps in fighting high blood pressure. They are a rich source of fiber and this helps in lowering the risk of colon cancer. They are a great source of dietary fiber and antioxidants and this helps in maintaining a healthy digestive system. They help in preventing heart diseases.. Read more about stellar price jump and let us know what you think.
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