Yesterday, Stellar Lumens, just like most altcoins, picked up the pace and started trading higher against the USD. This was encouraging to traders since the price of Stellar has been recording loses for weeks now. While the recent gains are encouraging, a Stellar Lumens price analysis on Cryptolithy.com states that Stellar Lumens price is still performing poorly from January to May. The cryptocurrency is yet to breakeven for the year. So, investors who bought XLM in January are currently losing. In the Stellar Lumens news today, we are going to consider when the possibility of the price of Stellar hitting its yearly high and when this is going to happen.
Stellar Lumens News Today – Stellar Lumens Price Prediction – XLM Price Prediction – When Will Stellar Breakeven?
In the beginning of the year, the price of Stellar Lumens was $0.112. At the time of writing, XLM was trading at $0.102037. This means that it is up by 4.43% against the USD and down by 3.93% against the price of BTC. The trading volume over a 24 hour period is $393,639,042 and the market capitalization is $1,957,539,094. This means that even if it is higher within a 24 hour period, it is down by more than 10% between January and now. Investors are still wary about when the price of Stellar Lumens will breakeven for the year and start recording gains. The good news is that the price of Stellar has moved above the immediate resistance at $0.102. So, it needs to gather enough momentum to move above the next resistance at $0.1171.
Stellar (XLM) Price Today – XLM / USD
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When the price of Stellar finally breaks above the resistance at $0.1171, the next resistance will be at $0.119. Moving above this resistance is the only way the price is Stellar Lumens is going to breakeven this year. Many analysts believed that it would happen during the recent surge but the bulls seem to be cooling off and Stellar was only able to break one resistance. On the down side, the is a strong support for the $0.090. If a price correction starts and the price of Stellar Lumens fall below this support, the next support will be at $0.0755.
Stellar Lumens News Today – Stellar Lumens Price Prediction – XLM Price Prediction – What Is Fueling The Price Action Of Stellar?
There are several factors that are responsible for the price action of Stellar. Fundamentally, Stellar has a strong foundation. These are the factors the will fuel a more sustainable bull run for Stellar Lumens this year. However, these fundamentals are not entirely responsible for the current positive trend of Stellar Lumens. Right now, the Bitcoin bull run is the main factor that is fueling the price of Stellar and other altcoins. Stellar will be able to breakeven in the next 2 to 3 months when real fundamentals come to play.
What do you think about the XLM price prediction in our Stellar Lumens news today? Share your thoughts in the comment section below.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
