If you have been looking at the intraday performance of Stellar lumens (XLM), you might think that it is one of the best cryptocurrency performers in recent times. However, when you look at a slightly longer-term picture, you will realize otherwise. Today, Stellar lumens (XLM) is trading around $ 0.0998. It is up by 7.52%. Most of the other mainstream cryptocurrencies have risen today as well. That is why it is just following the trend. However, when you look at Stellar lumens (XLM) performance year-to-date, you will realize that it provides negative returns year-to-date. That is why even the investors who invested at the start of this year are not making any money. It prompts the question will Stellar lumens (XLM) breakeven for this year anytime soon?
Will Stellar Lumens XLM breakeven for the year anytime soon?
What are the next expected levels?
Can it get support from macroeconomic factors?
The rally in Stellar lumens (XLM) is broadly based on the macro factors this time around. Even though the fundamentals of Stellar lumens (XLM) are improving as well, but the current rally is due to the macro factors. Bitcoin (BTC) is leading this rally. Only when it gets support from the macro factors in the long term like in the next 2 to 3 months, it can breakeven for the current year. It is still 11% away from the levels from which it can break even. Owing to this very reason, it needs the support of a broad-based rally to clear those levels.
Instead of leading by today’s move in Stellar lumens (XLM), it would be a good idea to find out whether it can clear the resistances we mentioned above or not. Only when it is able to do so, can the rally be sustained.