When Will Stellar Lumens XLM Join Bitcoin Bull Run and Surge?

stellar xlm

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. While the recent gains are encouraging, a Stellar Lumens price analysis on Cryptolithy states that Stellar Lumens price is still performing poorly from January to May. Stellar will be able to breakeven in the next 2 to 3 months when real fundamentals come to play.

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. 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 Lumens Price Prediction – XLM Price Prediction

Stellar (XLM) Price Today – XLM / USD

Name Price24H (%)
Bitcoin (BTC)
$10,422.00
-0.85%
Stellar (XLM)
$0.089608
2.79%

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 downside, there 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 XLM Price Analysis

Yesterday, Stellar Lumens, just like most altcoins,  started trading higher against the USD. This was encouraging to traders since the price of Stellar has been recording losses for weeks now.  The cryptocurrency is yet to breakeven for the year. So, investors who bought XLM in January are currently losing.

The bitcoin trend was one of the largest contributing factors towards XLM’s growth on the 10th of May. The percentage is quite mixed as the price is still in constant development but it can be easily said that the price surged from $0.089 a piece to break the $0.1 price point within just 2 days. All the while increasing the market capitalization by more than $200 million. n.

Overall, one of the most important market developments that XLM investors should watch is BTC performance. Another small bull rush is guaranteed to drag XLM along, potentially breaking the $0.12 mark.

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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

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