Stellar Lumens News today, just like the news about Stellar for a while now, is bullish. This is despite the fact the the price of Stellar Lumens is trading in red against the USD like other cryptocurrencies in the market. The Stellar network still has a lot of potential for growth and development. A recent research revealed that the Stellar blockchain is the preferred option for institutional investors who are interested in cross-border payment services. About a month ago, IBM announced that it would be using the Stellar blockchain for a project with its partner banks. This move sent shock waves across the industry because everyone expected that IBM would use the Ripple blockchain. The Stellar Lumens price also became bullish after the news about the Coinbase Stellar airdrop. In the Stellar Lumens news today, we are going to consider if the bullish rise in the price of Stellar will continue after the current market correction ends.
Stellar Lumens News Today – Stellar Lumens Price – What Will Happen To The Stellar Lumens Price After The Correction?
After the price of Bitcoin hit a new yearly high above $5330, it started correcting lower against the USD. At the time of writing, the price of Bitcoin was $5,285.00. This shows that it is down by 0.97% against the USD. The trading volume over a 24 hour period is $13,179,700,777 and the market capitalization is $93,321,704,125. Stellar is trading at $0.111210. It is down by 4.01% against the USD and down by 3.06% against the price of BTC. The trading volume over a 24 hour period is $248,409,223 and the market capitalization is $2,153,432,018. Within the last 25 days, however, Stellar is up by over 11% against the USD.
During the cryptocurrency bull run in the first week of the month, the price of Stellar gathered enough bullish momentum against the USD. It was able to hold the uptrend for many days even when the market correction started. Unfortunately, the bulls ran out of steam. A similar thing appears to be happening now. The price of Stellar was trending upward when Bitcoin was recording gains and as soon as the market condition changed, the price of Stellar started falling as well.
Stellar Lumens News Today – Stellar Lumens Price Prediction – Stellar Price May Bottom Out
Due to the current condition in the market, some analysts have suggested that the price of Stellar will most likely bottom out before it starts moving upward again. There has been a bearish trendline on the Stellar price chart since April 8th. The trendline needs to be broken if the price of Stellar is to resume its bullish rally after the market correction. Otherwise, the price of Stellar is going to move below the current resistance levels near-term.
What do you think about the Stellar Lumens price prediction in the Stellar Lumens news today? Share your thoughts in the comment section below.