- The price of XLM is up nearly 5% as it trades at around $0.095.
- Stellar price looks poised to retest resistance at $0.10, which could pave the way for the bulls to target $0.13.
- Sentiment is positive after the latest news about the Stellar Development Foundation and US-based crypto-focused company Coinme.
Stellar (XLM) price rose 4.5% amid a lull in Bitcoin (BTC) as many altcoins in the top 50 bracket by market capitalization rose slightly.
XLM is currently trading just above $0.095, up about 9.3% over the past week. According to CoinGecko data, he had $128 million worth of his XLM traded in the last 24 hours, and the coin’s daily trading volume increased by 27% during that period.
XLM Price Prediction as Crypto Exchange Coinme Adds USDC to Stellar
Stellar Lumens price hasn’t risen as much as XRP, which surged nearly 10% in renewed upward momentum Tuesday morning, but recently sees its own breakout after validating a new support line There is a possibility.
Stellar could also benefit from broad gains in the cryptocurrency as the bulls appear to bounce back from the decline catalyzed by this week’s regulatory news.
Stellar also has good news.
On Tuesday, US-based cryptocurrency cash exchange provider Coinme announced that it has partnered with the Stellar Development Foundation to integrate the USDC stablecoin on the Stellar network.
according to the details press release, this collaboration will enhance financial inclusion for millions of users. USDC on Stellar gives Coinme users easy access to borderless digital cash and her P2P payments. People can send, receive and cash out his USDC at thousands of Coinme locations across the US.
“By enabling USDC in Stellar on the Coinme wallet, anyone with cash will be able to leverage the Stellar blockchain to access fully backed dollar digital currency. People can now exchange cash for his USDC on Stellar and transfer money in seconds at a cost of 1 cent.Coinme CEO and co-founder Neil Bergquist said in a statement:
Bergquist said the collaboration was “A Game Changer in the Cash Transfer and Payments Market”
XLM Price: Technical Analysis
The technical outlook for XLM price on the daily chart suggests that the bulls are facing stiff resistance near $0.10. The buying pressure that will characterize the cryptocurrency market in 2023 has seen buyers attempt to break through a massive supply barrier, but the lack of decisive action means the bears maintain a slight edge. means
However, the price has broken above the uptrendline support, suggesting a possible bullish breakout if buyers pull out sellers at $0.10. This could add to the upward momentum currently indicated by his daily RSI above the 50 line. The daily MACD is also slightly bullish.
XLM price on daily chart. sauce: TradingView
If XLM breaks out of the horizontal resistance line, the next big hurdle could be $0.13. On the downside, the immediate short-term support is $0.084 and then $0.07.
