TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Economie

Stellar (XLM) price is down 30% since August. Should I invest?

by souhaib
October 25, 2020
in Economie
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


You might also like

‘momentum is continuing into 2022’

Astra Space stock closed down 20% on Monday: here’s why

Ripple, Dogecoin, Litecoin price forecast for February 2022

The price of Stellar (XLM) has weakened from $0.119 below $0.070 in less than three months and the current price stands around $0.083. The main reason for this is a low transaction volume and the fact that there’s still a level of uncertainty surrounding the project.

Fundamental analysis: There’s still a level of uncertainty

Stellar (XLM) has been moving in a downtrend last several weeks and for now, there is no signal of the trend reversal. Stellar is a platform with a mission to connect payment systems, people and banks at almost no cost.


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Stellar has its own cryptocurrency known as Lumens (XLM) and it is important to say that this platform can be the future of banking because it strives to provide a practical solution to key global issues. Stellar has lots of advantages over Bitcoin, some of them include the capacity, transaction speed and lower fees.

The transactions on this network settle in just 2-5 seconds and they are free. Bitcoin is slow and expensive because of the mining process while Stellar avoids the costly mining process.

Another advantage is that the Stellar platform enables the quick and easy transfer between currency types, like from fiat dollars to crypto coins. Stellar supports initial coin offerings (ICOs) with big security, users are able to create custom ICOs by offering base abstractions like payments, tokens, and accounts.

Stellar has been increasingly adopted by banks and payment networks, some important names are IBM, KlickEx, Stripe, NEC Payments, Gramio Technologies, Distributed Lab among others. Partnership with IBM is a demonstration of confidence in the team behind the Stellar which is very important for this cryptocurrency.

A very good team stands behind this project, the fundamentals of this cryptocurrency are steadily improving but there’s still a level of uncertainty surrounding the project. We can also not forget that regulations on the cryptocurrency market can actually be a threat to this cryptocurrency.

Investors in Stellar should have in mind that this is a still very risky cryptocurrency but now could be a good time to trade Stellar (XLM).

Technical analysis: Bears are focused on breaking the support level at $0.080

Stellar (XLM) price is down 30% since August. Should I invest?
Data source: tradingview.com

On this chart, I marked important resistance and support levels. The important support levels are $0.080 and $0.070, $0.090 and $0.100 represent the resistance levels. If the price jumps above $0.090 it would be a signal to buy Stellar (XLM) and we have the open way to $0.100.

Rising above $0.100 supports the continuation of the bullish trend and the next price target could be located around $0.110. On the other side, if the price falls below $0.080 it would be a “sell” signal and we have the open way to $0.070.

Summary

Stellar price extended its correction from the recent highs above $0.119, registered in the third week of August. There are some obvious risks when it comes to investing in Stellar currently but if the price jumps above $0.090 it would be a signal to buy this cryptocurrency and we have the open way to $0.100.



Source link

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Share30Tweet19
Previous Post

Tai Tuivasa necks beer and SPIT from a SHOE to celebrate his KO win over Stefan Struve

Next Post

Wales national lockdown in new year ‘likely’, says minister

souhaib

Recommended For You

‘momentum is continuing into 2022’

by souhaib
February 7, 2022
0

Shares of Chegg Inc (NYSE: CHGG) are up 10% in extended trading on Monday after the student services company said it performed better-than-expected in Q4, despite COVID-19 uncertainty....

Read more

Astra Space stock closed down 20% on Monday: here’s why

by souhaib
February 7, 2022
0

Read more

Ripple, Dogecoin, Litecoin price forecast for February 2022

by souhaib
February 7, 2022
0

The cryptocurrency market is advancing this Monday, and this situation also supports the price of Ripple XRP/USD, Dogecoin DOGE/USD, and Litecoin LTC/USD. Bitcoin is trading above the $44,000...

Read more

Analyst: ‘Apple would be forced into it if Amazon goes after Peloton’

by souhaib
February 7, 2022
0

Read more

Should I buy Uber shares in February 2022?

by souhaib
February 7, 2022
0

Uber Technologies, Inc. (NYSE: UBER) will announce fourth-quarter earnings results this Wednesday, February 09, after the market closes. Uber shares have weakened more than 10% since the beginning...

Read more
Next Post

Wales national lockdown in new year 'likely', says minister

No Result
View All Result

Recent Posts

  • Amber Heard says she will keep testimony against Johnny Depp until “her death”
  • Six police officers died after an ambush by an armed commando in Anáhuac, Nuevo León
  • Iraq .. Does amending the constitution solve the political crisis in the country? | Software
  • Prince Charles Denies Wrongdoing In Claimed Cash Donation From Qatari Politician
  • Norway: Suspect in Pride Month attack won’t talk to police

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide