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Price Analysis

Stellar Lumens (XLM) Price Analysis: Stellar’s New 0.13 USD Resistance Brings the Bear Back

Stellar coin (XLM) is a crypto coin backed by blockchain technology. It is an open source, distributed, and community-owned platform giving the option of cross-asset transfers of value. It is available in minimal expenses. Stellar Network aims to become a complete payment and settlement system which would connect all financial institutions globally. It claims of providing a substitute payment and settlement system with a lower transfer cost and small realization interval.

Current Statistics-

StellarWith a whopping 3732.90 % of ROI, Stellar coin is the 9th largest crypto coin in the market as of now. The total coins in circulation as of now stands at 19,302,932,737 XLM. The current market cap on 12th April at 02:19 UTC is 2,182,701,846 USD. The value of each coin in USD and BTC stands at 0.113076 USD and 0.00002277 BTC respectively. The 24 h volume stands at 368,033,886 USD at the same UTC.

Comparison-

Stellar coin started the year with a comparatively higher note. But soon it trended down to its lowest level of 0.074 USD in a month. Gaining some points gradually, it reached its highest after the market boom of April 1st. But the April hike could not be sustained for a longer period of time. Now, it has started showing some weaknesses. The market cap on 12th March was 1,952,151,824 USD, and the value of each coin in terms of USD and BTC were 0.101595 USD and 0.00002601 BTC. The current market cap is 11.81 % more than the value of March 12th. And in the last 30 days, the coin has gained 11.30 % in its value in terms of USD. But the recent fall is what concerns the stakeholders.

Prediction-

As mentioned earlier, the April 1st Growth could not be sustained. It has been falling with a greater speed since the last 5/6 days. After growing for a week, the coin started to fall after facing one resistance at 0.13 USD. As the value is now hovering around 0.11 USD, it is likely to fall to 0.10 levels. Then the coin will hike to its previous value with resistance at 0.15 USD. So, the investors are advised to lock buying positions at around 0.13 USD to 0.11 USD. It will surely give good results over this week. Medium term outlook is not very bullish, so holders need to wait more time. But the long term outlook is definitely bullish. The price may even reach as high as 0.35 USD to 0.50 USD by the end of 2019.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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