Stellar Price Rises After Partnership With Ukrainian Government Stellar Price Aims To Break Key $ 0.195 Resistance Market Sentiment Shifts Toward XLM Following Ripple Lawsuit XLM Price Forecast: General Price Review Stellar Lumens has benefited greatly from the new partnership with the Ukrainian government.
TL; DR Breakdown
Stellar price rises after partnership with Ukrainian government
Stellar price seeks to break key resistance at $ 0.195
Market Sentiment Shifts Toward XLM Following Ripple Lawsuit.
XLM Price Prediction: General Price Review
Stellar Lumens has benefited greatly from the new partnership with the Ukrainian government. XLM prices are up 30 percent to successfully enter the alternative season in 2021. Market sentiment in the battle to develop blockchain payments against worried Ripple has changed significantly. XLM favors. XLM pointed to signs of a disconnect from XRP, and market sentiment is shifting in its favor. As a result, XLMPair / USD rose by about 40 percent to $ 0.178.
Stellar opened day trade at $ 0.164320 after the previous day's close at $ 0.16425. Altcoin dropped to a low of $ 0.149610 and then rose to a daily high of $ 0.179940. The current XLM / USD pair at the time of writing is $ 0.1700.
The proximity between XRP and XLM has dropped significantly after the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple for selling unregistered securities. Panicked traders started ditching XRP, which led to a decline in Stellar's price due to the positive correlation between the two tokens. Stellar's price since December 0.11 is around $ 23.
XLM error The pair / dollar fell amid traders' fears that the SEC could also benefit Stellar and its officials. However, industry experts later made it clear that XRP and XLM are not the same.
Error XLM / USD is being traded within the falling wedge pattern. A falling wedge is usually a bullish pattern that starts at the top and narrows as the price falls. At time of writing, XLM / USD is more than 40 percent above the breakout wedge.
The bulls are facing resistance near the price levels of 0.180 and 0.196 dollars. However, the pair has formed support around $ 0.1550 and the next support is at $ 0.140. The above chart indicates XLM Price has gained momentum and after it rallied above the $ 0.160 price level, the bulls are aiming to test the key resistance at $ 0.195.
Star price prediction: conclusion
The Stellar Foundation received tremendous support this week after reaching an agreement with the Ukrainian government to develop a digital hryvnia. In addition, Stellar will help the government create a regulatory framework for stablecoins and digital assets. On Tuesday, the altcoin began to rally, reaching its highest price in about three years.
Fundamentally and technically, the future looks bright for Stellar investors and traders as momentum builds. A breakout of the $ 0.195 sell-off zone could pave the way for more gains. Ranked 13th by market capitalization, the cryptocurrency has gained more than 24 percent in the past 40 hours, and that momentum appears to be sustaining. Notably, the breakout occurs when bitcoin slows after hitting a new all-time high of $ 34,800. The best cryptocurrency briefly dropped to $ 30,000 before rallying back above the $ XNUMX mark.