The Stellar (XLM) price has cleared a long- and short-term resistance level, a forewarning of a potential pump.

The Stellar price has increased since the beginning of the year and broke out from a descending resistance line in January. Before the breakout, the line had been in place for 616 days. Breakouts from such long-term structures usually lead to significant upward movements.

After validating the line as support (black icon), the XLM price reclaimed the $0.100 long-term resistance area. This is the next step in a bullish trend reversal. If the upward movement continues, the next resistance would be at $0.235.

The weekly RSI supports the continuation of the increase since it has finally moved above 50 (red icon). The previous time the RSI decisively broke out above 50 (green icon) was in November 2020, preceding a 900% price increase.

As a result, a similar massive price surge may follow.

XLM/USDT Weekly Chart. Source: TradingView

Stellar (XLM) Price Surges After Breakout

The technical analysis from the daily time frame supports the bullish outlook from the weekly one. On March 21, the price broke out from a short-term descending resistance line and then moved above the $0.095 minor resistance area. Afterward, it reached a new yearly high of $0.114 on April 1. However, the XLM price has fallen since the 0.618 Fib retracement resistance level rejected it.

Nevertheless, the readings from the weekly and daily time frames are decisively bullish, supporting the continuation of the increase. As a result, the Stellar price is expected to create a higher low and resume its upward movement.

Since the increase is likely part of a five-wave upward movement (black), a fall below the wave one high (red line) of $0.099 would invalidate the bullish price forecast. In that case, the XLM price could fall toward its yearly low close to $0.070.

XLM/USD Daily Chart. Source: TradingView

To conclude, the most likely XLM price forecast is bullish. The price is expected to gradually move toward the long-term resistance at $0.230. However, a fall below $0.099 would invalidate this bullish forecast and could lead to a drop toward $0.070.

#stellar #xlm #Binance #crypto2023 #crypto

Stellar (XLM) started a strong increase above the $0.100 resistance against the US Dollar. XLM price is trading nicely above $0.110 and it could continue to rise towards $0.120 or $0.1250.

There was a steady increase in Stellar’s token price above $0.100 against the US dollar.

It is now trading above $0.1080 resistance and settle above the 100 simple moving average (4-hours).

There is a major bullish trend line forming with support near $0.098 on the 4-hours chart of the XLM/USD pair (data source from Kraken).

The pair is likely to continue higher towards $0.1200 and $0.1250 as long as it is above $0.0980.

Stellar (XLM) is Gaining Bullish Momentum

After forming a strong support base above $0.0750, stellar (XLM) saw a strong increase above $0.080 against the US Dollar, similar to Bitcoin and Ethereum.

The price gained over 20% in a few days and was able to clear the $0.10 resistance zone. It even cleared the $0.110 level. A high is formed near $0.1108 and the price is now consolidating gains. XLM price is now trading above $0.1080 resistance and settle above the 100 simple moving average (4-hours).

It is positioned above the 23.6% Fib retracement level of the recent increase from the $0.0998 low to $0.1108 high. There is also a major bullish trend line forming with support near $0.098 on the 4-hours chart of the XLM/USD pair.

On the upside, an immediate resistance is near the $0.1108 level. The next major resistance is near the $0.1150 level, above which the price could test $0.1200. A close above the $0.1200 level might start a steady increase towards the $0.1250 and $0.1265 levels. The next major stop could be $0.1300 or even $0.1320.

Dips Supported in XLM?

If XLM price struggles to continue higher, it could start a downside correction. An immediate support on the downside is near the $0.105 level or the 50% Fib retracement level of the recent increase from the $0.0998 low to $0.1108 high.

The next major support is near the $0.100 level or the trend line. A clear break below the $0.0980 support zone could spark a fresh decline. The next major support on the downside is near the $0.0900 level.

Technical Indicators

4-hours MACD – The MACD for XLM/USD is gaining pace in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for XLM/USD is currently well above the 50 level.

Major Support Levels – $0.1050, $0.1000 and $0.0980.

Major Resistance Levels – $0.1108, $0.1200 and $0.1250.

#xlm #Binance #BTC #BNB #xrp

Stellar XLM is a decentralized blockchain platform that aims to facilitate cross-border payments and exchange of currencies. Launched in 2014, the platform was founded by Jed McCaleb, the co-founder of Ripple, with the goal of providing a more efficient and affordable alternative to traditional banking systems.

Stellar uses its native cryptocurrency, Lumens (XLM), as a bridge currency to facilitate the exchange of other currencies. The platform supports both fiat currencies and cryptocurrencies, allowing users to send and receive payments in a variety of currencies, including USD, EUR, BTC, and ETH.

One of the main features of Stellar is its fast and low-cost transaction processing. The platform uses a consensus algorithm known as the Stellar Consensus Protocol (SCP) to validate transactions, which enables faster transaction times and lower fees compared to other blockchain platforms.

Another important aspect of Stellar is its focus on financial inclusion. The platform aims to provide access to financial services for people who are unbanked or underbanked, particularly in developing countries. Through partnerships with various organizations, Stellar has launched a number of initiatives to provide affordable financial services, including microfinance and remittances, to people in these regions.

Stellar's governance structure is also unique, as it is overseen by the Stellar Development Foundation (SDF), a non-profit organization that is responsible for the platform's development and maintenance. The SDF is funded through donations from various sources, including the initial distribution of Lumens and grants from organizations such as the Bill and Melinda Gates Foundation.

In conclusion, Stellar XLM is a promising blockchain platform that aims to revolutionize cross-border payments and promote financial inclusion. Its fast and low-cost transaction processing, support for multiple currencies, and unique governance structure make it a strong contender in the blockchain space. With continued development and adoption, Stellar has the potential to transform the way we think about global finance. #Binance #BTC #BNB #crypto2023 #xlm

Despite the recent negative market trend, XLM, the governance token of the Stellar blockchain, is defying the odds in the crypto market.

According to CoinGecko, the token has experienced substantial gains in all timeframes, with the highest increase seen in the bi-weekly timeframe at nearly 29%.

This recent market rally can be attributed to on-chain developments that have propelled XLM to new heights.

Recently, the official Twitter accounts of Circle and Stellar announced that USDC, one of the largest stablecoins in the market, is now available on the CoinMe wallet. This move significantly expands the reach of both organizations and highlights the advantages of the Stellar ecosystem and potentially give a boost in price to XLM.

ICYMI: #USDC on @stellarorg is now available in the @Coinme wallet. 

Excited to help additional communities experience reduced costs and faster settlements for peer-to-peer transactions. https://t.co/JqS7t4gbbZ

— Circle (@circle) March 28, 2023

Stellar Links With Polkadot

Adding to the bullish momentum, Stellar has now been connected to Polkadot through the Pendulum parachain, which is being touted as the final link between fiat and DeFi.

USDC will also flow between Polkadot and Stellar, further advancing Stellar’s position as a bridge between the traditional financial system and the crypto market. This position was already strengthened by its 2021 partnership with Moneygram, a fiat cash transfer platform.

Stellar’s recent efforts to position itself as a money transfer and payments platform could help restore USDC’s reputation as a safe asset for investors. However, it may take some time for the market to fully regain trust in USDC as a stablecoin, and caution may still prevail.

XLM: Upbeat In Overcoming Bearish Sentiment 

Meanwhile, XLM has encountered resistance at the $0.1129 level, which could lead to potential downside in the coming days. If the bulls succeed in overcoming this resistance, we may see further upside for the token. However, given the current bearish trend in the market, this outcome is uncertain.

For now, monitoring the momentum of the general market would be beneficial for the bulls. As of writing, XLM can enjoy a high correlation with Bitcoin if the latter picks up momentum again. At $0.1097, can XLM bulls continue the rally?

Overall, the XLM team is confident in its ability to navigate the bearish market sentiment and continue to grow in value. By focusing on adoption, technology, and community engagement, they believe that XLM will remain a strong investment opportunity in the cryptocurrency market.

#xlm #stellar #Binance #crypto2023 #BTC

The ISO 20022 standard will set a new standard of communication for all financial institutions worldwide. The 20022 standard will completely change the financial landscape and improve international money transfers. 

Cryptos that update their blockchains to comply with this new ISO standard will likely appreciate in price if they are chosen for payments by banks.

SWIFT to ISO 20022

SWIFT, the global messaging network that banks use to send funds internationally, will be entirely updated to ISO 20022 near the start of 2023.  Its original format will no longer be used at all by 2025.

So far, the only two compatible cryptos are Ripple’s XRP (XRP) and Stellar Lumens (XLM). It’s  rumored that cryptos like MIOTA (IOTA) , XinFin (XDC) and Algorand (ALGO) are also compliant.

We can se big Move in these coin as banks start to use these ISO standard .

In case of XRP, there is also rumour going on that SEC Vs Ripple case will end with a settlement.

Source: Phemex Dot Com

#LearnTogetherEarnTogether #Binance #ripple #xlm #crypto2023