Stellar Lumens: A Promising Coin Made For Big Things
Stellar is one the shinning new cryptocurrencies in the market. Stellar Lumens has forged numerous partnerships in the last few months, thus making it a promising venture for the coming years.
With Bitcoin setting the pace as the leading cryptocurrency, and the ultimate peer-to-peer payment system, other cryptocurrencies are already catching up. It is only a matter of time before promising projects like Stellar Lumens become the standard for others to follow.
Stellar lumens is centered on developing fast transactions and incredible swift digital currency remittances. With a secure and beneficial crypto payment system, Stellar can rival the biggest cryptocurrencies currently in the market. What makes Stellar great among the new aged coins is that it has a useful project. It has built some of the most advanced payment system in the crypto space, while building invaluable partnership with top names in the financial and crypto environments.
2021 has not been so kind to Stellar Lumens. The coin has suffered a lot this year, and has faced its longest losing streak in the last couple of months. But as it is with all quality cryptocurrencies, any dip in price is a great opportunity to buy.
Stellar Lumens (XLM) is currently trading at $0.2667 with a market dominance of 0.34%. Cryptocurrency traders are used to market volatility. In the last few months, Stellar Lumens price has dropped and risen on four different occasions. Most significant drops have been followed by subsequent new highs. While price drops might be scary to some, they are often times to get into the market and buy more.
Stellar Lumens is currently 69% below its year’s high of $0.8050.Given its volatile history we expect XLM To rise again. indicators showed that the coin is primed for yet another high. mind you predicting the crypto market isn’t easy so there is every chance things might go differently.
XLM Technical Outlook
The daily charts show lots of positivity and indicate that the coin might be in an upward trajectory.
The 50-day MA is below the 100-day. While this shows the momentum is negative, it offers a good sign for people to buy. The relative strength index (RSI) is around 32.75, which shows more people are willing to sell than buy.
There are lots of support in this price benchmark. Potential downside would be price drops coming at $0.22 and below.
That been said, there are no areas of worry. As the coin has a good support, that will see it potentially rise towards the end of the year.