There some panic in the market. Stellar XLM Price Lumens is currently at a level where the price could move up or down. People are speculating that the price will either rise to $0.50 or fall below $0.20.
XLM hasn’t changed much in the last 24 hours. Currently, its price is slightly above $0.20. Experts say $0.21 is a crucial level.
If XLM moves above $0.21, the price could gradually recover. However, if it falls below, losses could occur. It’s simple, it’s either win or lose for XLM.
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Key Technical Levels To Watch For Stellar Lumens
If the upper line continues to push XLM prices down, short sellers could become stronger again. This could push XLM prices below $0.195, which would be a new low this year. XLM has fallen by almost 50% compared to last year. However, if the price stays above $0.22, this decline could be halted.
On the other hand, traders are betting on XLM if the market turns positive. This is because Stellar is being used in the real world assets and futures markets. The Chicago Mercantile Exchange has announced that Stellar futures could launch next month. Cardano (ADA) and Chainlink futures are also set to launch.
Catalysts Just Put All Eyes On Stellar
Strong and old altcoins are catching Wall Street’s attention these days, and ETFs are a big reason for this. Ripple, Hedera, and Litecoin have launched their own ETFs, attracting millions of dollars in daily inflows. Coins with similar use-cases, like Stellar (XLM), also have the potential to be next in line.
Clarity Act in the US and SWIFT’s ISO 20022 system could make XLM even more special. Because Stellar XLM Price is considered an American project, large companies and institutions can easily adopt it, just like XRP and HBAR.
XLM yearly high of $0.50 is also linked to regulations and legal decisions. Last July, Ripple settled its six-year-old case with the SEC, opening the door to new ETFs. Now, Grayscale has also planned an ETF for Stellar and has registered the Grayscale Stellar Lumens Trust.
If an XLM ETF launches this year, it wouldn’t be difficult for the price to reach $0.50 again. However, global political issues and market pressure could shake crypto, potentially turning the overall sentiment negative. Simply put, there’s both opportunity and risk.
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People Also Ask – Stellar XLM Price:
What is XLM’s current technical setup?
XLM is currently testing a sloping resistance line formed from recent highs. This is causing the price to form a triangle/wedge shape on short timeframes. The price has bounced off support at $0.20 and is now experiencing upward pressure.
Where is diagonal resistance located?
This resistance is located approximately between $0.215 and $0.225. On the chart, it appears as an upward trendline. Strength could be confirmed if the price breaks above this level with a strong close and high volume. But if rejected here, lower supports could be tested again.
Is this a bullish sign for XLM?
A breakout could be considered slightly bullish, as such tight movements often precede larger moves. However, volatility in the crypto market is high, so confirmation and risk control are crucial, especially when the overall market is volatile.
