These days, each week represents a cycle of a bullish and bearish trend in the market while not letting the contradictory bias go away. Since when the infamous market crash followed by a prolonged slowdown has occurred, investors have been finding it difficult to figure out one particular sentiment of the crypto space.
For the altcoins, like Stellar, it has become all the more unpredictable in terms of its price as the altcoins, mostly respond to how Bitcoin is going; and its price trend keeps playing with the $10,000 price mark on the upside and $8500 price mark on the downside, continuing the dilemma.
However, the long-term perspective does not appear that much risky here. Especially, the 13-month price chart of Stellar Lumens clearly indicates a possible trend reversal. Notably, a few bullish moves of the recently passed weeks have played a vital role behind the bullish turnaround.
Stellar Lumens (XLM) News
Apart from the market bulls, there are a few other factors that may help the XLM coin to trade upwards. Recently, Sam Conner, a renowned entrepreneur, has revealed a significant accomplishment of Stellar; and both of them are likely to fetch mass adoption on a vast level. Zagg Network, an entity that works with NPCI, is now specializing in DLT Technology. NPCI operates India’s payment rails and holds a userbase as large as 800M while carrying out 2B transactions over a month in the Asian country.
Zagg Network, who has worked with NPCI, an operator of #India’s payment rails and serves 800M users (2B transactions a month) in India, is now listed as a dev studio specializing on @StellarOrg applications. #XLM #StellarFamily #Stellar @Hyperledger https://t.co/tJWQf5Opfy pic.twitter.com/20lieNp2um
— Sam Conner (@samconnerone) June 7, 2020
Such monumental accomplishment of Stellar confirms an optimistic future of the coin. Its multi-month price trend also affirms the same, although the short-term may remain volatile.
XLM Price Prediction
Around a year ago, the price of Stellar crypto was trading above $0.13, and after going through a very rough, the coin is now testing resistance levels at $0.82. Major S/R flips have occurred near $0.13, $0.087, and $0.051.
In the last few weeks, bullish S/R flips have taken place at $0.052 and $0.072, and now the currency is trading firmly above these levels. XLM/USD has found a support level at $0.026 in March since when it has been rebounding.
Talking about its technical aspects, it holds a bullish bias. The MACD chart reflects positive momentum, and as per the current momentum and XLM forecast, the XLM coin may keep the uptrend intact for the near-term.