More often than not, asset prices tend to recover following periods of stretching as the last two weeks demonstrate. In our case, unless we see a recovery in Bitcoin, most coins as Litecoin or EOS for example might extend their losses.
Coinsuper, the Hong-Kong based fiat-to-crypto exchange had announced, earlier in the week that it would list Stellar Lumens [XLM] the world’s 6th largest cryptocurrency on its exchange. Following the announcement, the coin has seen significant gains in an otherwise dull week for the crypto market.
Stellar Lumens (XLM) is now listed on Coinsuper!! -Stellar is a platform that connects banks, payments systems, & everyday people.
-#6 (Coinmarketcap), deep alliance w/ @IBM https://t.co/TOFQVBUVu5 , @StellarOrg https://t.co/dFt54bY8lj#StellarLumens #XLM $xlm #Coinsuper pic.twitter.com/errroJ9wvq
— Coinsuper (@Coinsuper_OFCL) October 15, 2018
This week started off by the major coins covering lost ground after last week’s debacle when the collective market shaved off $20 billion in a matter of days following Bitcoin’s slump that anchored a meltdown. The top three coins surged past weekly lows at the start of the week and began to stabilise by Wednesday. Currently, only two coins in the top ten are trading in the green, Ripple’s XRP and Stellar Lumens. The latter is making significant strides since Coinsuper’s listing, rising in excess of 5% with the upswing looking to continue. Coinsuper announced that Stellar Lumens can be traded in the following pairs: XLM/BTC and XLM/ETH with the trades commencing from Tuesday, October 16.
Stellar Lumens key support level is placed at $0.2189, which the coin last touched on Monday. The key resistance level of XLM is placed at $0.2411, the coin is currently trading 3.73% above the key resistance level. The MACD shows that Stellar Lumens is in a bullish swing, while the 100 EMA line indicates a mild upswing. Since Coinsuper’s listing, traders have been purchasing XLM in large numbers, as indicated by the coin’s RSI which stands at 61.55, nearing the level of being overbought. The trading range of XLM is $0.2488-$0.509, with the coin hovering slightly closer to the higher extreme. At press time, the coin had surged by 5.13% against the U.S. dollar and is priced at $0.2507.
At press time, the digital currency had edged up Bitcoin [BTC] by 5.99% and currently one XLM is equivalent to 0.00003702 BTC.
At 0500 UTC on Monday, the total market capitalization of Stellar Lumens stood at $3.953 billion and in just 2 hours the coin surged by 8.67% past the $4 billion mark which began this week’s surge. Since then the market cap has risen by 6.06% and is currently valued at $4.561 billion.
Stellar Lumens [XLM] Price Prediction 2018
- According to WalletInvestor, in the space of 1-year, the price of XLM will rise to $0.4073 and in the space of 5-years the price will surge by 364% to $1.21.
- Investing haven adopts a very optimistic outlook when it comes to Stellar Lumens, it predicts that the coin will be as high as $4 this year.
- The Economy Forecast Agency, which has a more conservative forecast, has predicted that the digital currency will drop to $0.15 this year.
Stellar Lumens [XLM] Latest Updates
- Stellar Lumens and Dash were given the green signal by BitGo, a California-based cryptocurrency custodian that helps investors store cryptocurrency holdings.
- StellarX, the Robinhood-like free trading platform based on Stellar, has begun trading operations and is now fully functional.
- Circle Invest app recently added XLM to its portfolio along with EOS [EOS], Qtum [QTUM] and 0x.
See also: Crypto asset custodian BitGo adds support for Dash, Stellar to follow soon See also: Stellar to get their first full-featured trading app, know all about StellarX See also: Stellar Lumens, EOS, Qtum & 0x now available on Circle Invest app Image via Shutterstock Join our Telegram group
Ripple price is placed nicely above the $0.4560 and $0.4320 supports against the US Dollar. XRP/USD is likely to accelerate gains above the $0.4900 resistance zone.
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