Our Stellar Lumens price prediction depends on the XLM price holding the multiyear trendline. Earlier in the month, the price failed to make a higher high as the bulls lost momentum around $0.24 region. XLM price has been in a correction and is now trading at $0.197. Nevertheless, the price still respects the uptrend that began after the March 2020 crash. A breakdown below this trendline could put Stellar Lumens in a multiyear bear trend. Therefore, the bulls need to step up soon and bring their A-game.
Latest Stellar Lumens News
Stellar Lumens is a cross-border payment solution that allows unbanked people to transact freely on its blockchain. The project has already created several fiat on-ramps across the globe by locking key strategic partnerships in this regard. Stellar is also working with Argentinian and Cillian governments to create stablecoins backed by their respective local currencies.
It has also partnered with Money Gram to aid the transfers of remittances across borders. These collaborations make long-term Stellar Lumens price prediction very bullish. As per the latest stellar lumens news, 2 Stellar ecosystem companies, Rehive and Wyre, have integrated. This would allow users to build and scale fintech applications within a very short time.
Stellar Lumens Price Prediction
Technical Analysis of XLM crypto price chart shows the support at $0.25 level is now acting as a resistance. A recent rally also lost steam at $0.24, and the price is now trading at $0.197. The current price level also coincides with the 0.618 Fib retracement level. This level forms when the March lows of $0.166 and April highs of $0.24 are connected.
The stellar price must not make a lower low than $0.166, or things might turn pretty ugly for the bulls. On the other hand, stellar lumens price prediction could be very bullish if the price bounces off the current level. In such a bullish scenario price might surge to $0.27 in the short term. This would also make $0.33 a valid medium-term XLM price prediction.