It is rare to see a uniform appreciation in the value of digital currencies. Could Bitfinex and other digital currency trading platforms be involved in yet another “planned Bitcoin pump” to help other digital currencies recover?
Well, there may not be enough data, but some nuggets can be drawn from the previous Amin Shams research carried out by the University of Texas –Austin. While that may be true, it is no secret that the value of Stellar Lumens is gradually recovering because of its partnerships and increased adoption.
Stellar Price Today: Current Price of XLM
Presently, Stellar Lumens is ranked 7th on the list of leading digital currencies in the world, with a market cap of $4.45 billion. The digital currency is currently trading at $0.2363 after an increase of 1.9 percent in the last twenty-four hours, and the trading volume of the coin in the last twenty-four hours is $49.22 million.
Stellar Lumens Technical Analysis
Just like Litecoin, the value of Stellar Lumens has increased significantly over the past twenty-four hours, and this is a reprieve and a great news for the supporters of the digital currency. Of course, Stellar Lumens as a platform is great for launching projects and apart from its accelerating value transfer, it has a lot of use cases and a lot of investors are seeing value in the vision of Jade McCaleb.
So, as a result of the bullish bar two days ago, it is quick to enter the market and buy because of those high volumes in the last couple of days rejecting lower lows. You can buy with stops at the $0.20 or $0.18 levels, but it is recommended you wait for confirmations today.
When that happens, ramping longs with initial targets at the $0.30 mark and later at the $.40 mark will be perfect. Nevertheless, if sellers come back and break below the $0.20 support level, then the value might correct lower to the next resistance at the $0.09 mark.