Stellar Lumens News Today – Stellar Lumens XLM, just like almost every other altcoin in the market, has taken a dip against the USD. The price of the XLM token started falling along with the price of Bitcoin as the flagship cryptocurrency took a major swing below the $7000 level dragging Ethereum, XRP, and every other token along. In our previous Stellar Lumens news, we talked about how the price of Stellar Lumens XLM is going to surge significantly this month due to Stellar upgradation programs that are being launched by the Stellar Development Foundation. However, the current price action of Stellar Lumens is discouraging to traders in the market. Will Stellar Lumens XLM will recover this month?
Stellar Lumens News Today – Stellar Lumens Price Prediction – XLM/USD Pair Bleeds Out – What’s Next For Stellar Lumens XLM?
According to the Stellar Lumens news today on Captainaltcoin.com, the Stellar Lumens to USD trading pair spent the last few days in a sideways range above the 1500 satoshis level. The price of Stellar Lumens XLM formed support in the junction where you have the 20 EMA and 50 MA which happens to be at 1552 satoshis. It attempted to move to the 1650 satoshis level but resisted as the bears pressured the bulls in the market. It is important that the price of Stellar remains above the 1520 satoshis level to avoid falling below the 1250 satoshis level. If the price of Stellar Lumens is able to move above the breakout level at 1650 satoshis, more gains will be achieved near-term and the next target will be at 1900 satoshis.
Stellar (XLM) Price Today – XLM / USD
The daily trend of Stellar Lumens XLM is still bearish in our Stellar Lumens news today. The moving averages are on a descending trendline proving that the bears have full control of the market short-term. Right now, there is a slight resistance level at the 20 EMA. This is going to be the selling point. The weekly trend, on the other hand, shows that a falling wedge pattern is forming even if the bears are still in control of the market. This means that a bullish reversal is on the way. Before the bulls will be able to gain back their control, the price will bleed out significantly.
Since January, the Stellar Development foundation has been able to seal many partnerships that would all contribute to the success of the Stellar network and the Stellar Lumens token. One of the deals that gave Stellar Lumens an edge over other projects is the deal with IBM. IBM decided to use the Stellar Lumens blockchain for its World Wire project. This is expected to lead to a surge in the price and adoption of Stellar Lumens XLM.
Stellar Lumens News Today – Stellar Lumens Current Price – XLM/USD Price Analysis
At the time of writing, the price of Stellar Lumens XLM was $0.125054. This means that it is down by 7.12% against the USD and down by 0.94% against the price of BTC. The trading volume over a 24 hour period is $460,311,237 and the market capitalization is $2,417,216,223. The entire cryptocurrency market is taking a hit. The next few days of trading will determine if the price action is going to change or not.
What do you think about the Stellar Lumens price prediction in our Stellar Lumens news today? Share your thoughts in the comment section below.