The Bullish Rise in Stellar Lumens (XLM) Price May Continue After A Bottom Out

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.

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 (XLM) News Today – Stellar Lumens (XLM) Price Prediction

Name Price24H (%)
Bitcoin (BTC)
$10,978.94
-0.15%
Stellar (XLM)
$0.078290
0.36%

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.

Stellar Lumens (XLM) Developments

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. 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. Source: Smartereum

Stellar Lumens (XLM) Price Analysis: Bearish Trend Is Ravaging XLM

According to the latest Stellar Lumens analysis on cryptonewsz; the market is although somewhat stable as of now, the current price of XLM is dipping down. According to the analysts, the market condition will start improving by the end of this year. So, although, it is currently stable to an extent, it will not last long, and intense volatility will reappear. XLM will soon appear in all trading exchange platforms like Bakkt, NASDAQ and Robinhood. It has partnered with SatoshiPay for enhancing the scope of micropayment solution.

2019 is the year when there will be manifold partnerships of XLM, and thus, its price can have a great shift ahead. Everybody is well aware of the potentials of Jed McCaleb, the founder of Stellar and accordingly we believe that this year, XLM can reach a good height, provided it has really inspiring developments and efficient partnerships. We assume XLM to trade around $0.66-$0.70 by the end of this year.

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Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.