Stellar Lumens’ Partnerships May Boost XLM Price to $0.5 – How High Can Stellar Go?

Stellar is currently ranked by CoinMarketCap as the number 9 top digital asset by market capitalization after performing remarkably in 2019. It has continued to maintain its position as the center of attention in the space as it warms up to welcome more institutional investors. Considering Stellar’s recent partnerships, the price of Stellar Lumens is expected to hit new heights. In this case the $0.5 price position by year-end.

Stellar has been actively implementing ways to promote the crypto and its underlying technology. The recent surge in the price of Stellar Lumens can be attributed to XLM’s positive publicity and recent strategic partnerships the network has embarked on.

Stellar Lumens News – Stellar Partnerships

stellar xlm

It is no secret that the Stellar foundation has made it a goal to position the XLM as a legal tender in the banking sector. Stellar Lumens is transacted via a secure platform. It allows users to manage transactions without paying any additional fees.

Recently, the Stellar foundation entered into partnerships with IBM and Deloitte. Wirex, a renowned payment service provider, listed the XLM token as one of its payment options.

Additionally, Stellar is also targeting partnerships with regular firms. One of such partnerships that are worthy of mention is the partnership with Pioneer. A company from Israel. The goal of this initiative is to allow XLM to be an incentive for users participating in contests provided by Pioneer.

Stellar Lumens Price Prediction

The price of Stellar Lumens has reportedly surged by at least 10%. The project is believed to have received a major boost from its recent actions in a bid to ensure more adoption. The Blockchain network has penned a number of partnerships in recent weeks. The goal is to establish the XLM coin as a store of value in the coming years. Stellar has experienced an impressive growth rate since the year began.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$8,427.56-1.36%
stellar
Stellar
$0.068-5.53%

The price of Stellar Lumens is trading in a consolidation zone between $0.12 and $0.13. Hence, the XLM market can move in any direction. Additionally, the market may seem overstretched when you look at the indicators.

When you closely look at the network’s growing popularity, you’ll see that the XLM token has the potential to reach the $0.5 price position by the end of 2019.

For the short-term outlook, in the event that the market is forced below the 200-day EMA as well as beneath the lesser boundary of this range at the $0.12 position, we can see support areas at $0.1174 and $0.1146.

On the other hand, if the bulls maintain the support position near the 200-day EMA and force the price of Stellar Lumens over $0.145, the resistance level will shift the $0.155 level. Such a resistance position will likely usher in a fresh bullish movement. Analysts recommend buying Stellar to hodl in the long term for more profits. However, this decision should be taken after studying the market trends.

Stellar To Be One Of the Top 5 Cryptocurrencies

The value of XLM has spiked up by 29.95% with 0.129084 USD as a good support resistance within this one month.

On the basis of the price analysis and current updates, we assumed that XLM could be trading around $0.28 by the end of 2019.

Overall, XLM is a great cryptocurrency that is gaining immense attention from the financial and banking sectors. It can be considered as a good option for long term investment.

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

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