When you look at the price of stellar lumens (XLM) today, it is trading down by 2%. It is trading at $0.1122. Since, last few days, it has not moved much. However, many of the investors have ignored the announcement that IBM will be using the blockchain of stellar lumens (XLM) for one of its projects with the banks. It indicates that it is gaining more and more traction. The news has not yet been factored in by the markets. Neither, the investors are lapping up stellar lumens like earlier. That is why; it is not, however, clear in which direction stellar lumens is headed.
What’s in store for stellar lumens (XLM)?
Nearest supports for Stellar lumens (XLM):
It brings us to a critical question regarding the support levels of stellar lumens. The nearest support for Stellar lumens is $ 0.099. It is around 7% away from the current levels. It seems like once it bounces back from the support, it can quickly rise by another 10%. That is why the support level is pretty significant.
Nearest resistance for Stellar lumens (XLM):
It does not, however, mean that once it bounces back, it can rise significantly. There are strong resistances for Stellar lumens around $ 0.1295. That is why the rise above will not be smooth as well. Prior to that, there is resistance at $ 0.1276. It clearly indicates that on the upside, there are multiple resistances which Stellar lumens (XLM) has to clear before heading higher.
Until Stellar lumens (XLM) is within this range, it will continue to go to and fro. Only once it can break this range, it can head higher. So, if you are Stellar lumens (XLM) investor, it is essential to keep these levels in mind. In spite of the significant developments, Stellar lumens (XLM) continues to trade in this range. Only once it can move beyond this range, can it gain any momentum. Up until that point in time, it will trade in a range which might not provide a lot of leeway to the investors or the traders. If you think of investing in Stellar lumens (XLM), it would be a good idea to wait it out. Only when it can take support at the lower levels, you can think about buying it. If it does not receive support at those levels, it can fall even more significantly.
Leave a Reply