Stellar Lumens Price Prediction: Is XLM Poised for a Breakout?

Summary:
• Stellar Lumens price continues to trade within narrow margins of support and resistance levels of $0.099 and $0.12, respectively.

Stellar Lumens price continues to trade within narrow margins of support and resistance levels of $0.099 and $0.12, respectively. Today, Stellar Lumens has traded aggressively during the intraday trading hours, which has resulted in prices surging by 7.5 per cent. The current session trend also looks to have volatility behind it, and there is a high likelihood we might see prices going further up. 

Stellar Lumens price surge comes amidst reports that it had entered into a partnership with Tildamail. The partnership will see over 7 million stellar accounts be able to send and receive USDC and Stellar Lumens (XLM) like mail. The service will enable these users to send and receive these digital assets in seconds. 

The reports were confirmed by the USDC CEO and Co-founder of Circle, who commended Stellar for the job well done in their integration with Tidamail. The integration is likely to see Stellar Lumens continuing to gain traction with users and possibly push its prices to break out of its current narrow range horizontal trend. 

Stellar Lumens Price Prediction

Looking at the chart below, we can see prices have traded in a very narrow price range of $0.099 and $0.12 since mid-June. However, despite the horizontal trading, the past week has been aggressively bullish, which the price of XLM surging by 17 per cent.

With today’s price surging by 7.5 per cent as of press time, there is a high likelihood that we may be at a point where Stellar Lumens breaks out of the support and resistance levels of $0.099 and $0.12 by trading above $0.12. Therefore, in the next few trading sessions, I expect the current bullish trend to continue and break out of the $0.12 price level to the upside.

There is a high likelihood that the price level that will be hit by Stellar Lumens will be the $0.13 resistance level, based on current factors such as a recovering cryptocurrency industry and volatile XLM prices. However, if prices drop below today’s opening price of $0.11, then my analysis will be invalidated.

XLM Daily Chart