upstripes | Stellar (XLM) predictions for 2019, fundamental & technical analysis

On Mar 4, 2019, the cost of Stellar Lumens reached $0.080. A fast spike in early April and slow uptrend brought lumens to over $0.135 on Apr 8. The cost has fallen very quickly since to a low around $0.11 at the time of composing on Apr 12.

Will the price of Stellar lumens keep going down or should we expect a reversal soon?

Let’s find out:

Stellar Lumens (XLM): Highlights for April 12, 2019

• The price of Stellar lumens has been on an uptrend since Mar 4.
• Since then, XLM/USD is trading inside an ascending channel.
• Bullish divergence is developing in the RSI.
• There is resistance near $0.123 and $0.117

On Mar 13, the price reached a high of $0.115. Several market cycles have been completed since, with each high being higher than the previous one.

Tracing these highs gives us an ascending resistance line.

Stellar has also enjoyed some benefit from the BTC bull run, however, not as much as other altcoins. The cryptocurrency has increased by a slight 9% over the past 30 days bringing the price of the coin up to around $0.1130. Despite this, Stellar has been continuously rising from the February 2109 low by a total of 53% to the current trading price.

Stellar had managed to surge into resistance at the $0.1348 level before the market reversed and rolled over. It is now trading at support provided by the short term .382 Fibonacci Retracement level (drawn in green) priced at $0.1175. Stellar is now ranked in 9th position as it holds a $2.19 billion market cap value.

Fundamental Outlook

The news around Stellar in 2019 has mostly to do with its addition on Coinbase programs — notably the Coinbase Earn program. This utilizes Coinbase's purchase of Earn.com which rewards survey takers and participants with a small bit of cryptocurrency.

Coinbase's current program allows users to take a quiz on Stellar's cross-border payments system to earn XLM for their Coinbase wallet. You can learn more here.

In other news, Stellar devs fixed a bug that users found had left the blockchain exposed. It's good news, but Stellar has still not found footing in the kind of adoption that could bring its value up.

Stellar Lumens Price Prediction 2019

The price of XLM on Poloniex is analyzed at three-day intervals from Jan 2015 to Mar 2018.

Following our prediction, the price at the end of 2019 should not be very far off from the price today, inside the horizontal channel between $0.07 and $0.2.

However, as is visible from the image above, the price of XLM has made the following pattern:

1. Sharp increase
2. Sharp Decrease
3. Sharp Increase
4. Sharp Decrease
5. Horizontal movement

Therefore, the $5 high should be the first high, which is followed by a sharp decrease and then another increase, followed by a decrease and horizontal movement.

Disclaimer: This article is not trading advice and should not be construed as such but merely a curated article with various sources used as references. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

References:

1. https://beincrypto.com/xlm-stellar-lumens-price-analysis-04-12-2019/
2. https://beincrypto.com/xlm-stellar-lumens-price-prediction-updated-04-12-2019/
3. https://www.investinblockchain.com/bitcoin-ethereum-ripple-litecoin-bitcoin-cash-eos-binance-coin-stellar-cardano-tron-price-analysis-april-12-19/
4. https://seekingalpha.com/article/4253579-april-outlook-stellar-xlm-bitcoin-trading-pairs

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