Stellar Price Gains Over 5% in a Day for Over 5 Days Now

Stellar, which was one of the top 10 lucrative cryptos of the global market, has now shifted to trading at 11th position after having nosedived below $0.14 to testing supports as low as $0.139 in the previous week. Alongside, Stellar is often considered as the best cross-border remittances blockchain to ease the foreign payment hassle.

As per the recent Stellar news updates, Thailand’s largest bank has selected Stellar-based blockchain for foreign remittances in partnership with Lightnet. Fintech giant Lightnet is already using Stellar blockchain. This partnership will lead to efficient cross-border fund transfers between South Korea & Thailand.

Stellar Price Gains Over 5% in a Day for Over 5 Days Now

As a platform, Stellar is doing ultimately great, and the YTD price movement has gained a massive investor base as it hit a YTD high at $0.233. However, unable to hold, the coin kept decreasing gradually and drew an extended downtrend and has lost as much as 40% from the YTD high to the weekly low of $0.139.

Stellar Price Analysis

Stellar News
XLM/USD Chart By TradingView

At the time of penning down this analysis, Stellar price was spotted at $0.176, after having drawn a slight uptrend from the weekly low of $0.139, marked below $0.140, 10 days after hitting the YTD high above $0.20. With a small uptrend extended after the weekly low, the XLM coin price trend is seen hitting the upper 20-day Bollinger Band and is retaining complete support from 50-day and 200-day MA at $0.162 and $0.163, respectively. You must go through Stellar Lumens Price Prediction by our experts to know about the possible future prices of XLM coin.

The downtrend from the YTD high is notable after having drawn a lower high pattern to dip as low as $0.139 to strengthen by over 25% in 5 days, showing over 5% growth in 5 days from the given weekly low. The MACD indicator also records the bullish divergence due to a 25% gain in XLM price. The RSI is also seen having a stringent inclination towards the overbought zone, which lies at 59.43.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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