Stellar Lumens Price Analysis – XLM Is Likely To Gather Momentum Soon – XLM Price Analysis
Since its creation, the network has experienced rapid growth; accommodating more than 3.4 million accounts and managing about 2.5 millions operations daily. Stellar is a decentralized blockchain network which deals with fiat currencies as well as digital currency transfers. The network was created and designed to allow easy and efficient cross-border transactions between any pair of currencies. The network was founded by a co-founder of Ripple — a top blockchain organization that controls the cryptocurrency, XRP.
Stellar (XLM) Price Today – XLM / USD
The Stellar network is dedicated to seeing improvements in the rate at which currencies are transferred between individuals or even between nations. The firm has formed partnerships with other major firms across the globe. In December 2016, Stellar formed a partnership with Deloitte to build a cross-border payments application called Deloitte Digital Bank. Stellar has also formed partnerships with ICICI in India, PH in the Philippines as well as Flutterwave in Africa. The Stellar Lumens coin is ranked as the number ten crypto in the world based on market capitalization. The coin’s trading value at the time of writing is $0.0833.
In the Stellar Lumens price analysis, the coin has been observed to form a Doji candlestick pattern in the last two days. This has left both the Bears and the Bulls in a state of indecision. The price is still stuck at $0.076 between the 20-day EMA. Analysts expect the Bulls to hold on to the $0.072545 to $0.076 support zone on the downside. Despite this, the number ten crypto will only gather momentum to surge upwards if it climbs above the 20-day EMA and the $0.097795 mark. The Bears seem to be dominant as the downtrending Simple Moving Average (SMA) of the coin and its Relative Strength Index (RSI) are in the negative region. A downtrend of the coin may likely resume if the Bears push the XLM/USD pair of below $0.072545; this will also form a large negative for the coin. Analysts do not advise users of the coin to trade in it at the moment, as a result of the skepticisms at current trading levels. If the price continues above the 20-day EMA, we might be in for a Bullish run.
Cryptocurrency News Update – Libra Might Never Be Launched, Facebook Warns – Cryptocurrency News Today
In cryptocurrency news today, Facebook’s yet-to-be-launched Libra crypto may never happen. This is as a result of the stern criticisms and oppositions the potential crypto has faced since Facebook announced it will be launching it next year. For the coin to experience success in the crypto market, it must have to have the necessary backings and approvals from regulators and policymakers; the coin hasn’t been getting much of these thus far.
If Libra eventually sees the light of the day, the adoption and use of cryptocurrencies would increase at an exponential rate because it’s owners, Facebook, command a very large database. Regardless of whether Libra is launched or not, one thing is certain; the crypto sphere will continue to welcome new investors and spectators into the cryptocurrency market.