Right now, the bulls are on fire. This morning, the price of Bitcoin surged by almost 11% hitting $8939 on regulated exchanges. As expected, every cryptocurrency including Stellar Lumens followed. Over the last two days, the price of Stellar Lumens is up by more than 10%. While the bullish momentum has been confirmed, there is no way to determine how long the bulls will continue to control the market. However, it’s most likely that the bulls will have strong control of the entire cryptocurrency market until the end of the month.
It’s true that Stellar is a solid project and that the Stellar Development Foundation is working hard to promote the Stellar network. However, whether or not the price of Stellar will retest the months high depends on the price action of Bitcoin. Altcoin enthusiasts don’t want to admit but the price action of Bitcoin still influences the price action of altcoins significantly. Now, these good developments are going to lead to a more significant surge in the price of XLM that may take Stellar Lumens as high as $1 before the end of the year.
Stellar Lumens News Today – XLM Fight With $0.161 Resistance
Earlier in the month, the price of Stellar Lumens XLM was able to surge as high as $0.161 during a market wide bull rally. Since after the market correction, however, Stellar Lumens XLM has been unable to retest this level. According to the latest Stellar Lumens price prediction on Cryptopolitain, with the current price action, there is a strong chance that the price of Stellar Lumens XLM is going to test its monthly high before the end of the month.
Stellar Lumens Price Prediction
At the time of writing, the price of Stellar Lumens XLM was $0.137989. This means that it is up by 2.38% against the USD.
Stellar (XLM) Price Today – XLM / USD
Right now, the strongest resistance is at $0.161. If the price of Stellar Lumens is able to surge above this $0.161 level, it would have enough momentum to surge even higher near-term. It is currently down by 15% from this key resistance and would need a serious push from the bulls to maintain it. The question remains, will Stellar Lumens maintain the bullish pressure? Source: Smartereum
Stellar Lumens News Today – Will XLM Reach $0.2?
The price of Stellar Lumens has picked up the momentum as Bitcoin, Ethereum, XRP and every other cryptocurrency records gains against the USD. This cryptocurrency bull run is just an extension of what has been happening in the cryptocurrency market for the past few weeks. The Stellar Lumens price prediction 2019 has been bullish since the beginning of the year even when the price action of Stellar was not impressive. The Stellar Lumens news about network developments and partnerships by the Stellar Foundation all helped to support the price during the price pullbacks.
The current demand zone of XLM is $0.2, which will most likely be the hardest to achieve, but according to the simple moving average indicator, should that price point be reached another gear-up towards next milestones such as $0.25 and $0.4 will be much more realistic.
According to the XLM price analysis on cryptopolitan; XLM may not be the best coin to enter a position with at the moment. As for those who are already stocked up, it’s best to either diversify or sit the next one or two weeks out and wait for massive price surges which will most likely occur at the $0.10 or $0.15 price marks.