Stellar price analysis: XLM/USD overcomes Litecoin by market cap
|- Stellar is the only coin in green out of top-10.
- XLM pushed Litecoin to the 7th place by market cap.
Stellar (XLM) beat Litecoin and moved to the 6th place in the rating of top largest digital coins by market value. Its capitalization reached $5.6B, while the average daily trading volume settled at $186M amid a flow of positive news, including Stellar platform Sharia certification and proposed listing on Coinbase, the largest US cryptocurrency trading platform.
XLM has been outperforming the market during recent days. The coin gained 4% on a daily basis while the majority of the coins moved to the bearish territory. XLM/USD is changing hands at $0.3026 after testing $0.33 on Thursday.
Stellar's technical picture
On the intraday basis, XLM is well supported by 50-SMA (1-hour chart), currently at $0.2969. If this area is cleared, the downside may be extended towards $0.2667 (100-SMA, 1-hour chart) and to the critical $0.2500. On the upside, the resistance is seen at $0.3100 and the recent high at $0.3300.
XLM/USD, 1-hour chart
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