Stellar Lumens (XLM) Forum with for newcomers and contributor's rewarded Check here




What’s in store for stellar lumens (XLM)?
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5

#1
[Image: Stellar-lumens-XLM-News-Whats-in-store-f...ns-XLM.png]
When you look at the price of stellar lumens (XLM) today, it is trading down by 2%. It is trading at $0.1122. Since, last few days, it has not moved much. However, many of the investors have ignored the announcement that IBM will be using the blockchain of stellar lumens (XLM) for one of its projects with the banks. It indicates that it is gaining more and more traction. The news has not yet been factored in by the markets. Neither, the investors are lapping up stellar lumens like earlier. That is why; it is not, however, clear in which direction stellar lumens is headed.

What’s in store for stellar lumens (XLM)?

A month ago, the price of stellar lumens was $ 0.107. Currently, it is just 5% above that level. Since the past fortnight or so, there has been a consistent decline in the price of stellar lumens (XLM). However, about a month ago IBM announced that it would be using stellar blockchain for a solution which it provides to its partner banks. There were wide expectations that IBM would use the ripple blockchain. However, it seems like it has ditched the ripple blockchain and gone with the stellar blockchain. While there was an impulse then, but ever since then, Stellar lumens is consistently declining.

Nearest supports for Stellar lumens (XLM):

It brings us to a critical question regarding the support levels of stellar lumens. The nearest support for Stellar lumens is $ 0.099. It is around 7% away from the current levels. It seems like once it bounces back from the support, it can quickly rise by another 10%. That is why the support level is pretty significant.

Nearest resistance for Stellar lumens (XLM):


It does not, however, mean that once it bounces back, it can rise significantly. There are strong resistances for Stellar lumens around $ 0.1295. That is why the rise above will not be smooth as well. Prior to that, there is resistance at $ 0.1276. It clearly indicates that on the upside, there are multiple resistances which Stellar lumens (XLM) has to clear before heading higher.

Until Stellar lumens (XLM) is within this range, it will continue to go to and fro. Only once it can break this range, it can head higher. So, if you are Stellar lumens (XLM) investor, it is essential to keep these levels in mind. In spite of the significant developments, Stellar lumens (XLM) continues to trade in this range. Only once it can move beyond this range, can it gain any momentum. Up until that point in time, it will trade in a range which might not provide a lot of leeway to the investors or the traders. If you think of investing in Stellar lumens (XLM), it would be a good idea to wait it out. Only when it can take support at the lower levels, you can think about buying it. If it does not receive support at those levels, it can fall even more significantly.



by Riddhi
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  Stellar Expected to Fetch a Profitable Intraday Closing crytocure 0 14 Yesterday, 01:08 PM
Last Post: crytocure
  Bears Attack Stellar (XLM); Price Slips to $0.062 crytocure 0 12 16-10-2019, 12:42 PM
Last Post: crytocure
  Stellar Price Exhibits Improved Price Momentum; Trades Around $0.064 crytocure 0 30 15-10-2019, 01:04 PM
Last Post: crytocure
  Stellar market overview: XLM/USD shoots up by 4.40% as bulls make merry crytocure 0 23 15-10-2019, 03:11 AM
Last Post: crytocure
  Stellar Manages to Pull a 2.61% Increment; Marks Intraday Height at $0.062 crytocure 0 39 14-10-2019, 10:34 AM
Last Post: crytocure
  Stellar (XLM) Price Exhibits Possibility to Escape From Bearish Trend crytocure 0 25 13-10-2019, 11:53 AM
Last Post: crytocure
  Stellar (XLM) Trades with Moderate Volatility; Hovers Around $0.061 crytocure 0 17 12-10-2019, 03:15 PM
Last Post: crytocure
  Stellar Bring the Bears Back; Got Mauled by 2.67% crytocure 0 19 11-10-2019, 11:39 AM
Last Post: crytocure
  Tron, Stellar Are Founding Members of Blockchain Education Alliance crytocure 0 20 11-10-2019, 02:22 AM
Last Post: crytocure
  Stellar’s Latest Hike Surpasses $0.062 Target crytocure 0 21 10-10-2019, 10:28 AM
Last Post: crytocure



Users browsing this thread: 1 Guest(s)