- Investors have been steadily changing their sentiments positively towards XLM.
- Coinbase has already begun accepting XLM deposits.
- Trading on Coinbase Pro is set to begin as soon as there is enough liquidity.
Stellar has been on an incredible upward trajectory since the beginning of March. Investors have been steadily changing their sentiments positively towards XLM in the past few weeks following the news that Börsenmedien AG, a media firm in Germany is buying stakes in SatoshiPay. Similarly, the network is working on changing its logo to appeal more to the traditional financial sector.
Read more on Stellar logo transformation here.
In other recent news, Coinbase, a leading cryptocurrency exchange company in the United States announced plans to list Stellar (XLM) as a tradable asset on March 13. The exchange will list XLM on its Coinbase Pro platform. Coinbase has already begun accepting deposits and trading is set to begin as soon as there is enough liquidity.
Stellar price overview
Following the 22% rise in the first two weeks of March, Stellar is trading at $0.1092. It has maintained a bullish trend within an ascending channel as observed on the 4-hour chart. XLM/USD recently tested highs at $0.113159 before starting the current bearish correction. However, the bulls appear to have the energy to either stage an upward reversal or defend the support at $0.1050. Both the 50 SMA and the 100 SMA will offer support at $0.0950 and $0.0895 respectively.
According to the RSI at $65.71 and the MACD at +0.004745, Stellar is still primed for gains in the short-term. The bullish outlook is likely to continue especially with the bulls targeting $0.2.
XLM/USD 4-hour chart
Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?