- Summary:
- In this Stellar price prediction, we explain why the price of lumens could soon jump by another 8% to $0.34% in the near term. What next?
The Stellar price is in a tight range as investors ponder the next moves for the popular altcoin. The XLM price is trading at $0.4050, which is 18% above last week’s low of $0.3415. Its market cap has jumped to more than $9 billion, making it the 15th-biggest cryptocurrency in the world.
In the past 24 hours, Stellar and other digital currencies have rallied on news that Visa was starting a trial of processing USD Coin using Crypto.com. They have also rallied because of the deal by Ripple to acquire Trangle, a fast-growing crossborder payments company in Asia. The company hopes to take advantage of the growing remittances industry. As the industry grows, Stellar will be a key beneficiary.
Stellar Lumens price forecast
Turning to the four-hour chart, we see that the Stellar Lumens price have been in a tight range recently. The XLM has struggled to move below the support at $0.3420 and the resistance at $0.4353.
As a result, the price has moved slightly above the 25-day and 15-day moving averages while the Relative Strength Index (RSI) has calmed slightly below the overbought level at 70. The volatility, as measured by the Average True Range (ATR) indicator has also dropped.
Therefore, as I wrote last week, Stellar price could be having a calm before the storm. This means that it will soon breakout. If it does, the key levels to watch will be the support and resistance levels shown above. In my view, the Stellar price will rise to $0.34, which is about 8% above the current level.
XLM price chart
