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Stellar (XLM)

Stellar [XLM] Will Continue Its Hot Streak As Bulls Rush Into Its Market

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The crypto-verse has been on a roller coaster ride with the price of the assets exhibiting extreme volatility. Stellar [XLM] has been bagging a lot of gains following its association with the Ukraine government as well as the bull run. The entire market, however, was seen back at the red sea. Bitcoin was down by 4% in the last 24-hours which staggered the king coin’s price down to $35K. The overall market cap of the crypto industry had been trying hard to push past $1 trillion, yet it was stuck at $942.85 billion during the time of writing.

Just last week, Stellar revealed that it was joining hands with the Ukraine government to develop a CBDC. This seems to have aided the asset’s market cap as well as price. The altcoin’s market cap rose to $6.39 billion pushing the coin into the top ten. At press time, XLM was trading for $0.289 and surged by over 100% in the last 14 days.

Stellar [XLM] One-Hour Price Chart On Binance

Stellar [XLM]

A symmetrical triangle pattern was formed in the one-hour price chart of XLM. The volume in the XLM market was quite low which further affirmed the pattern that was formed. The upper trend line formed lower highs at $0.31 and $0.29 while the lower trend line was constituted by higher lows at $0.262, $0.260 as well as $0.27 which later converged to form a triangle. The direction of a breakout is usually upwards with this pattern.

The daily moving average indicator prolonged its bullish crossover and was in sync with the pattern formed.

Stellar [XLM] With Indicators

Stellar [XLM]

The short term price chart of XLM was exhibiting a buyers’ sentiment as the Relative Strength Index [RSI] was above 50 median. The MACD line was seen changing sides after a brief stay in the bearish realm. The MACD line was sluggishly overtaking the signal line forming a bullish crossover.

Ukraine Eyes Development Of CBDC As It Teams Up With Stellar Foundation

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Central Bank Digital Currencies [CBDC] has become every country’s dive into digitalization. Ukraine seems to be jumping on the bandwagon as several countries have already begun developing their own digital currencies. Governments have taken advice from prominent crypto platforms in the development of these assets. Ukraine’s Ministry of Digital Transformation recently revealed its partnership with a  prominent cryptocurrency network.

Ukraine To Embrace Digitalization

In a recent blog post, the Stellar Development Foundation [SDF] unveiled that it had signed a Memorandum of Understanding and Cooperation with Ukraine’s Ministry of Digital Transformation. This memorandum is said to focus on the development of digital assets in the country. With China being well ahead in the CBDC game, other countries were also seen catching up. Ukraine seems to be complying with the “better late than never” motto and is prepping to embrace digitalization. The post pointed out that the country wanted to elevate its status in Eastern Europe’s digital financial market.

While it remains uncertain if the country will opt for Stellar’s blockchain for its CBDC, the memorandum affirmed that both the parties would focus on several other aspects of rolling out a digital currency. This included the development process of the virtual asset, all the way to the implementation, circulation as well as the regulation procedures of the asset.

The Deputy Minister of Digital Transformation for IT Development, Oleksandr Bornyakov pointed out that the leading countries of the world were on board with the development of digital assets and Ukraine’s National Bank has reportedly been researching the prospects of CBDC since 2017. He added,

“The Ministry of Digital Transformation is working on creating the legal environment for the development of virtual assets in Ukraine. We believe our cooperation with the Stellar Development Foundation will contribute to development of the virtual asset industry and its integration into the global financial ecosystem.”

All the activities related to the development of Ukraine’s CBDC has started this month. Additionally, the CEO and Executive Director, Stellar Development Foundation, Denelle Dixon revealed that the SDF was rather impressed by the commitment that the country had towards the adoption of innovation and digitalization.

Is Stellar [XLM] Headed For A Trend Reversal?

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The crypto-verse was hitting new highs, thanks to the bull run that has struck the market. Stellar [XLM] and XRP were undoubtedly the stars of the bull run. While Bitcoin was getting closer to its all-time high other coins seemed to be following suit. Stellar [XLM] over the past few days had not only surged in terms of price but also with regard to its market cap.

At the time of writing, XLM was trading for $0.2219 with a 41.77% rise over the last 24-hours. The altcoin had climbed up the crypto ladder all the way to the 11th position. XLM had managed to secure gains of over 137% over the previous seven days.

Stellar [XLM] One Hour Price Chart

Stellar [XLM]

The one hour price chart of XLM had formed a symmetrical triangle pattern. The pattern was identified by the trendlines that were formed in the chart. The upper trend line was formed by higher lows of $0.222 and $0.229. Higher lows were formulated the lower trend line at $0.131, $0.146 as well as $0.181. The direction of the breakout was uncertain following the formation of the aforementioned pattern.

The daily moving average indicator was seen putting XLM in the bearish realm. However, it seemed like it was heading for a crossover. Yet, at the time of writing, the 100 daily moving average [Orange] was seen above the 50 daily moving average [Blue] indicating the presence of bears in the XLM market.

Stellar [XLM] With Key Indicators

Stellar

The Stellar [XLM] market was seen heading for a reversal of a trend. The Bollinger Bands indicator was seen recovering from its recent surge in volatility. After a slight convergence, the bands were seen diverging headed for an increase in volatility. The Chaikin Money Flow [CMF] indicator, however, was seen traveling towards the bearish realm. The CMF marker was below zero.

While the pattern brought about confusion in the XLM market, the indicators were seen getting cozy with the bears.

Chainlink, Tezos, Stellar Lumens Technical Analysis On 10th November 2020

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The cryptocurrency market, including numerous altcoins along with Chainlink, Tezos, and Stellar Lumens, was in the consolidation phase as a minor pullback triggered a retreat. The global market cap decreased by 1.39 percent over the last 24 hours and currently stands at $440.3 billion.

Chainlink [LINK]:

LINk 4 e1605009022111

Over the past 24-hours, ChainliUnk [LINK] noted a minor surge of 0.84% which pushed its price to $12.76. At the time of writing, LINK registered a market cap of $4.99 billion while holding a 24-hour trading volume of $1.83 billion.

After a renewed bullish trend, LINK has managed to steadily soar higher. The rising gauge following a bullish crossover in Klinger Oscillator evidenced the increasingly positive sentiment for the token. The Awesome Oscillator also flipped bullish momentum after quite some time.

If the bulls manage to defend this crucial level, it could target the nearest resistance of $16 as it found firm support at $8.76

Tezos [XTZ]:

XTZ e1605009253902

Tezos [XTZ] declined by 0.38% over the last day as it stood at a price of $2.12 while holding a market cap of $1.58 billion and a 24-hour trading volume of $174 million, at the time of writing.

XTZ bullish attempts have been stalled numerous times. However, the Chaikin Money Flow noted a spike above the zero-line above depicting a rise in terms of the capital inflow in the XTZ market. Mimicking the latest price action, the MACD also flipped bullish crossover depicting a much-needed reversal.

XTZ’s immediate resistance level was found to be at $2.61 while its support stood at $1.85

Stellar Lumens [XLM]:

XLM e1605010452208

Stellar Lumens [XLM] noted a 0.31% increase over the past 24-hours driving its value to $0.0813. At the time of writing, the token recorded a market cap of $1,701 and a 24-hour trading volume of $164 million.

The dotted markers of Parabolic SAR aligned below the XLM candlesticks firmly supporting the coin from a decline. Additionally, RSI also rose above the 50-median depicting a sentiment of increasing buying pressure among the investors of the coin market.

The rising bullish pressure signaled a potential breach of XLM’s nearest resistance point of $0.086. In case of a trend reversal, however, Stellar Lumens could retrace its steps to its immediate support level of $0.071

Litecoin, Stellar, Tezos Technical Analysis On 6th November 2020

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The crypto-verse was seen enjoying a streak of an uptrend for the past few days. Even though all the coins like Litecoin, Stellar, Chainlink, and others were seen surging, the crypto community had eyes on Bitcoin. BTC had pushed past $15K with a 7.62% rise over the last 24-hours. The global crypto market cap was in sync with the ongoing bull market as it had hit $445.29 billion with a 7.89% daily increase.

Litecoin [LTC]

Litecoin was the star of the latest crypto uptrend as it was surging by 13.84% over the last 24-hours. The altcoin continued trading for $62.58 securing its position as the eighth-largest cryptocurrency with a market cap of $4.11 billion.

Litecoin, Stellar , Tezos

The bulls were going to prolong their stay in the LTC market as the key indicators on the short term price chart of LTC were seen dancing with the bulls. The Parabolic SAR indicator screamed bulls by forming dotted lines below the candlesticks. The Relative Strength Index indicator was seen revealing a strong buyers’ sentiment as it was in the overbought zone.

Stellar [XLM]

Even though XLM is not a part of the top ten cryptocurrencies, XLM didn’t fall short. The altcoin was trading for  $0.08434 with a 14.32% rise over the last 24-hours. XLM was stood as the seventeenth-largest coin with a market cap of $1.762 billion, just below Justin Sun’s cryptocurrency TRX.

Litecoin, Stellar , Tezos

The indicators used in the short term price chart of Stellar were seen conflicting as they revealed contradicting notions. The MACD line took over the signal line and formed a bullish crossover, however, the Klinger OScillator welcomed the bears with the formation of a bearish crossover.

Tezos [XTZ]

With a market cap of $1.54 billion, Tezos found a place in the top twenty. The altcoin was one of the big winners of the latest bull market as it rose by 12.40% over the last 24-hours. The coin was trading for $2.06 at the time of writing.

Litecoin, Stellar , Tezos

XTZ could continue its hot streak as it was all bulls in its market. The Awesome Oscillator indicator formed green closing lines and suggested the presence of bulls. The Chaikin Money Flow indicator cried bulls as the marker was way above zero.

Cardano, Litecoin, Stellar Technical Analysis on 20th October 2020

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Bitcoin continued to assert its dominance over the crypto market. While $12K was fast approaching the king coin, the dominance percentage was at 59.7%. No significant momentum was recorded in the crypto market as all the coins were enduring dainty price changes. The global crypto market cap was at $364.24 billion with a 1.47% daily increase.

Cardano [ADA]

ADA continued to secure its place as the ninth largest cryptocurrency with a market cap of $3 billion. The price of the coin during the time of writing was $0.1055. The altcoin was dropping by 0.97% over the last 24-hours. ADA seemed to have endured a pretty rough week as its price had slumped by 6.45% over the last seven days.

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The short term price chart of ADA suggested that it would prolong its downtrend as the bears had checked into the ADA market. The Parabolic SAR laid dotted lines above the candlesticks limiting the chances of an upward breakout. The Chaikin Money Flow [CMF] indicator was below zero affirming the presence of bears.

Litecoin [LTC]

Litecoin was once one of the most popular coins. However, over the years the LTC came slumping down to the tenth position of the crypto ladder. The coin was trading at $47.74 during press time and LTC was one of the only coins that was increasing by 1.19%. However, over the last week, the coin had dipped by 4.92%.

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LTC was going to continue its stay in the red zone as the Awesome Oscillator formed red closing bars and opened the doors for the bears. The MACD indicator formed a bearish crossover in the one hour chart of LTC. Earlier today, the MACD line had dipped below the signal line.

Stellar [XLM]

XLM was probably the only popular coin that was faring high. With a market cap of $2 billion, XLM was trading for $0.0840. The altcoin was surging by 2.02% and had garnered gains up to 9.3% over the last seven days.

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Stellar was on its way to break its hot streak as the bears had made an entry into the short time price chart of XLM. With the Relative Strength Index marker below 50 median, a sellers’ sentiment had taken over the XLM market. The Klinger Oscillator was prolonging a bearish crossover it had formed yesterday.

Litecoin, Monero, Stellar Technical Analysis on 11th September 2020

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By recording an overall market capitalization of $334.06 billion, the crypto-verse was seen heading towards recovery. While Bitcoin’s dipped to 56.8%, several altcoins were seen prepping to endure potential slumps caused by the presence of bears in the market.

Litecoin [LTC]

As the Litecoin community gears up for the launch of MimbleWimble, the of the altcoin witnessed dainty gains over the past few weeks. However, during the first week of September, LTC recorded a huge slump further pushing its price back into the $40 zone. During press time, the coin was trading at $48.65 with no significant change in its price.

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Parabolic SAR’s dotted markers pushed LTC below a major resistance level of $54. The formation of the dotted line above the candlesticks indicated the prevention of any possible breakout in the upward direction. The Relative Strength Index was also seen lounging in the high sell-pressure zone. If bears decide to prolong their stay in the LTC market, the altcoin might dip below $40.34, which has been a strong support level for LTC.

Monero [XMR]

Similar to every other coin in the crypto-verse, XMR recorded a massive drop in its price back in the first week of September. However, the coin seemed to be on its way to recovery. With a market cap of $1.48 billion, the privacy coin was trading at $83.59. However, at press time, XMR was seen plunging by 2.23%

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Bears seem to be reposing in the XMR market as the MACD line has been below the signal line for a long time now. Even though the bearish crossover took place long ago, both the lines seemed like they would soon converge. The Klinger Oscillator indicator, however, hinted at the presence of bulls in the market. If bulls do take over the XMR market, the price of the altcoin could push past a resistance level at $90.

Stellar [XLM]

XLM began its journey downhill back in August, unlike the other coins. However, the altcoin was seen rising by 2.90% during the time of writing. XLM was trading at $0.0815 with a market cap of $1.68 billion.

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The Awesome Oscillator observed a shift in the momentum, however, the bars were seen turning green after an array of red bars. The Chaikin Money Flow seemed to be headed towards the bearish territory as outflow of capital was indicated in the XLM market. If bears do take over the market, the altcoin might stoop below its critical support level at $0.064.

Stellar, Chainlink, Tezos Technical Analysis on 23rd August 2020

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The cryptocurrency market has formed a bearish divergence as the positive momentum has weakened. Nevertheless, several altcoins, closely mimicking Bitcoin’s price movements, have resumed an uptrend over the last 24 hours.

Stellar Lumens [XLM]

XLM e1598156260124

XLM saw strong gains over the past week and was trading just beneath its immediate resistance which also happens to be its 2020-high. However, the near-term technicals painted a bearish picture.

At the time of writing, XLM was priced at $0.101 after a rise of 1.61% over the last 24-hours. In addition, the 14th-largest cryptocurrency recorded a market cap of $2.082 billion and a 24-hour trading volume of $188 million.

However, the signal line dominated in both Klinger Oscillator as well as MACD after a bearish crossover. This indicated that the coin’s price could perch close to its key support of $0.094. A failure to hold this level could prompt a drop to $0.86.

Chainlink [LINK]

link 4 e1598155586302

Chainlink’s price has dramatically increased over the past eight months. While it hasn’t been able to surpass the recently seen all-time high yet, however, the LINK token regained its momentum.

Over the past day, LINK was up by 8.55% which drove its price to $15.41 as it registered a market cap of $5.39 billion and a 24-hour trading volume of $1.89 billion.

Despite the overall positive performance, the bears were aggressively defending the resistance at $19.19. This essentially signaled a potential dip close to its support at $110.28. Besides, the red closing bars of Awesome Oscillator aligned with the bears. The Chaikin Money Flow also indicated an outflow of capital from the LINK market.

Tezos [XTZ]

xtz e1598157142410

Tezos witnessed a rather sluggish price action over the seven days. After withdrawing from its resistance of $4.3, XTZ was observed to be following a downtrend.

The token appreciated by 3.04% over the last 24-hours which propelled its price to $3.49 at the time of writing. The 13th-largest cryptocurrency’s market cap stood at $2,58 billion and a 24-hour trading volume was observed to be at $208 million.

Despite a miniature uptrend, the dotted markers of the Parabolic SAR hovering above the XTZ price candles depicted a bearish trend for the coin. The RSI was also below the 50-median line indicating a rising sentiment of selling pressure in the market. If the coin’s value sinks to $2.4 support level, this could provide an opportunity for the buyers, subsequently leading to a trend reversal.

Market Analysis: BTC, XLM, ADA, NEO Price Analysis

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The world’s number one cryptocurrency by market cap is expected to make a key move in the next few days to start a trend that could dictate the direction of price action for a couple of weeks.

After the recent success and traction of Grayscale’s Bitcoin Trust Security over the last few weeks, Wilshere Phoenix applied to the SEC to introduce a publicly-traded Bitcoin Fund. The approval of the application by the SEC would most likely attract institutional investors.

 

Bitcoin and altcoins price analysis

Bitcoin has been struggling to get past the $10,000-$10,500 resistance level for the past few weeks. If the price of BTC drops further, it is plausible to affect altcoins and the other digital currencies, but this could be an excellent opportunity for investors. Let’s look at a few cryptos that might present the bulls and bears with an investment opportunity.

BITCOIN / U.S. DOLLAR

The world’s most popular cryptocurrency, BTC, is seeing a scuffle between bears and bulls. Bulls are trying to push the price of Bitcoin over $10,000–$10,500 in resistance to trigger a positive momentum. On the contrary, bears are trying to create a temporary top in the $10,000 price zone.

On June 10, BTC’s price dropped below $10,000 and plummeted to $9,254 on June 11. These two levels are essential as they signal the direction of the BTC price action once it breaks out of either of the two levels.

Thus, if the BTC price advances past $9,548, Bulls is expected to attempt to push the price up to $10,000. If the price of BTC breaks past the crucial $10,000-$10,500 resistance level, it may indicate the likely start of sustained positive momentum.

On the other hand, if bears can lower the BTC price below $9,254-$8,638.70, then it is likely that the price will fall below $8,130.53. A breakout further below this zone could force investors to sell, triggering a downward surge.

Bitcoin price analysis

XLM/USD

During the March crypto market crash, XLM plummeted from $0.06 to around $0.026. Currently, the XLM/USD pair is trading at $0.071418. This is a good sign as the price of Stellar Lumens has more than recovered from the March cryptocurrency market crash by about 120 percent. 

However, looking at the charts, XLM is currently on a red downtrend. However, the current $0.071418 market price is above the 50-day, 100-day, and 200-day moving averages, indicating that there are sufficient support zones at $0.070 and $0.058, respectively. Bitcoin is currently trading below the $9,300, it is likely XLM will test these zones soon.

XLM price analysis

ADA/ USD

Cardano’s (ADA) price has dropped below the 20-day moving average, $0.075. This signals a weakened bullish rally for the cryptocurrency. In the meantime, the bulls are attempting to protect the 50 percent Fibonacci retracement zone of $0.0705811. However, if ADA can break off this support level, it can rally up to $0.080 and further to hit $0.0901373. Notably, this support level is a critical factor since, if ADA falls below it, the drop may extend down to $0.0510249.

Cardano price analysis

NEO/USD

NEO is currently in an unfavorable situation. The 50-day moving average is surging upwards, suggesting that the midway trend is up. Nevertheless, NEO dropped below this support level back in June 10, signaling a diminishing bullish rally. 

Currently, NEO is trading at $10.44, according to coinghecko.com. If bears can push the price down below $10.42133, selling is likely to increase. The support levels to watch out for if the downtrend starts are $9.21399 and then $8.60349.

On the other hand, if the bulls can buy their way up to the 100-day moving average ($11.27), it may escalate the likelihood of a rally towards $12.2839 and then to $12.1711.

NEO Price analysis

Stellar Lumens [XLM/USD] Market Analysis: Bulls Return To Claim Green Territory For Cryptocurrency

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The cryptocurrency market’s bullish movement has been a sight to watch with several assets going up in value. Altcoins have followed Bitcoin on the rise and have reaffirmed the ‘altcoin surge’ among the community.

Stellar Lumens was one of the cryptocurrencies on the bull’s back with its value shooting up over the past week. At present time, Stellar Lumens was trading for $0.07 with a total market cap of $1.49 billion. The cryptocurrency’s 24-hour market volume was at $569.37 million after going green on all the time frames.

1 hour:

xlm 1 hr

On the hourly chart, Stellar Lumens was clearly on an uptrend by bouncing off its immediate support. The immediate support was at $0.0711 while the resistance held at $0.091.

The Parabolic SAR was below the price candles for a sustained period of time. The markers staying below signified that Stellar Lumes was heading through a bullish atmosphere.

The Relative Strength Index was also climbing up on the ranks. According to the RSI, the XLM buying pressure was much higher than the selling pressure.

The Chaikin Money Flow was above the zero line after following a sinusoidal pattern for the past couple of weeks. The rise showed that the capital coming into the XLM market was more than the capital leaving the market.

1 day:

xlm 1 day

The daily chart showed a small dip after a momentous rise from the start of the year. The immediate support was formed earlier at $0.0622 after which the cryptocurrency has not looked back.

The Relative Strength Index had fallen into the range of the bands again after a phenomenal performance above the overbought zone. This may be due to the slight dip in prices over the earlier weeks.

The Chaikin Money Flow had significantly gone up since the start of 2020. Some experts of the cryptocurrency field have claimed that Stellar Lumens’ significant partnerships may the reason why there was an increase in institutional capital.

The Parabolic SAR was above the price candles for the short term. The markers went up after a parabolic rise from the middle of January.

Conclusion:

In the long term. Stellar Lumens seems to be improving on a price scale. Despite the reduction in market pressure, institutions have continued to pour money into the Stellar Lumens ecosystem.