Stellar Lumens (XLM) Price In Control Of The Bears – Will Stellar Lumens Recover?

Ever since the Stellar Coinbase listing, Stellar has been getting more exposure in the cryptocurrency space. To put an icing on the cake, the Stellar development foundation decided to host a Coinbase Stellar airdrop which helped in cementing the bond between Stellar and Coinbase. Still recently, IBM announced that it would be using the Stellar blockchain for its IBM Wire project which involves several financial institutions. The announcement was unexpected as everyone in the cryptocurrency believed that IBM would use the Ripple blockchain rather than the Stellar blockchain for the project.

After the IBM Wire announcement, the price of Stellar Lumens surged against the USD. This was quickly followed by a drop in bullish momentum. While the Stellar Lumens current price is currently red against the USD, the Stellar Lumens price prediction 2019 and the Stellar Lumens price prediction 2020 are bullish according to the Stellar Lumens price analysis on Ambcrypto.com. The technical indicators show that the price of Stellar still has bullish momentum but the bears have created resistance against the USD.

Stellar Lumens XLM Price Prediction

Stellar (XLM) Price Today – XLM / USD

Name Price24H (%)
Bitcoin (BTC)
$7,461.56
0.35%
Stellar (XLM)
$0.055438
0.86%

The signal line and the MACD line are trending sideways to show that there is currently a battle between the bears and the bulls. Right now, the price of Stellar Lumens is facing resistances at $0.166, $0.134, and $0.118. There are support levels at $0.083, and $0.074. The $0.100 level acted as support earlier in the day but Stellar Lumens lost that support. There is currently an equilibrium between the levels of buying and selling pressure. So it’s like a fist fight between the bears and the bulls.

The trend is bearish short-term. However, the Stellar Lumens price prediction 2019 and the Stellar Lumens price prediction 2020 are bullish mid and long-term. Stellar Lumens may move as high as $100 by the end of the year 2025 and it has the potential to rise as high as $500 eventually.

Short-term, Stellar Lumens price needs to cross the support turned resistance at $0.100 if it is to record more gains against the USD. If it falls below the next support at $0.84, there would be an increased chance of hitting lower lows short-term.

Stellar Lumens XLM Price Analysis

A few days ago, the price of Bitcoin started rallying higher against the USD. While the price of Stellar and other altcoins didn’t outperform Bitcoin, Stellar was able to generate some decent gains against the USD. However, the bull run was followed by a correction and the price of Stellar started bleeding out.

According to the latest Stellar Lumens XLM price analysis on cryptonewsz; the IBM network collaborated with over 5 plus banks to move their transactions to the Stellar technology. Stellar has also recently tweeted about its network being used by over 150,000 accounts daily. The team recently conducted an event to discuss blockchain in business at the StellarCluster Meetup in NYC on May 7, 2019, and witnessed good participation. The coin is expected to cross the resistance level of over USD 0.15 by the end of this quarter, and the next resistance level will be around USD 0.20. The price of the coin can reach as high as USD 5 in the next 2 years.

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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.