Stellar (XLM) – Ready to Move?

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Price Movement – Stellar ( XLM):

XLM is a platform that allows different financial firms to connect with each other.

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At the time of writing XLM is being traded at the price of $0.366. The price of XLM has decreased by almost 3.20% in the past 24 hours. The daily trading volume has also decreased by almost 28.10% in one day. XLM is listed on coinmarketcap at 25th spot according to market capital and has a market dominance of about 0.33%.

XLM has achieved its all-time high around the price of $0.79 in May 2021. After the crash, the price fell down to a level of about $0.1985 during the month of August 2021 from where it showed reversal. The last month has been bullish for XLM and we saw an increase of about 33.66% in October.

XLM has a total supply of 50B tokens and has a circulating supply of about 24.2B tokens. XLM can be traded at a lot of different exchanges such as Binance, OKEx, Huobi with different trading pairs.

Technical Analysis – Stellar (XLM)

Right now a lot of coins are giving similar vibes of being highly bullish. Their charts are primed to break out any time. The same is the case with XLM. The price of XLM tapped into an equilibrium zone where the orders are being filled continuously.

The price first tapped into the zone after breaking the structure at around $0.30. After it had broken that level, the price went on to touch a very important level i.e. $0.41. This was also a point from where the market had a very big drop in the past. But this time, the drop was very small and more of a healthy movement.

The price created support from where it bounced and is going to tap the level of $4.1 again. If this level breaks and the resistance is flipped into support, we can expect a beautiful move towards the upside. A good target would be around the zone of $0.55. A midpoint of the candle that caused the drop.

Long Term Prediction – Stellar (XLM)

According to wallet investors, the price of XLM is highly bullish in nature and is a safe investment. According to their predictions, XLM will reach a value of $0.625 in one year. For a five year plan, XLM is expected to reach a value of $1.56.