Stellar Lumen (XLM) is up by greater than 2% in the final 24 hours as the broader cryptocurrency market continues its optimistic begin to the week.
XLM, the native coin of the Stellar Lumen blockchain, is up by greater than 2% up to now at present. The coin is at present buying and selling at $0.1124 at press time.
XLM’s efficiency aligns with that of the broader cryptocurrency market, which is additionally up by greater than 2% in the final 24 hours. However, it has did not surge previous the $0.120 resistance stage in latest weeks and will stay there as we head into the previous couple of days of the month.
What is driving Stellar Lumen’s worth larger at present?
XLM has been performing effectively during the last 24 hours, aligning with that of the broader cryptocurrency market. It is up by greater than 2% in the final 24 hours and is underperforming in opposition to Bitcoin and Ether, the 2 main cryptocurrencies by market cap.
Bitcoin is up by greater than 4% at present and is buying and selling above $20k, whereas Ether has added greater than 10% to its worth and at present stands at $1,453.
Today, SDF introduced a $5 million Enterprise Fund funding in @sendwaveapp, a fast-growing cell cash app introducing easier, cheaper options for customers to transact and ship cash affordably. https://t.co/KTdq2ilcd2
— Stellar | #Meridian2022 | Rome, Italy | Oct 11-13 (@StellarOrg) October 24, 2022
XLM is not rallying regardless of the Stellar Development Foundation (SDF) saying a $5 million Enterprise Fund funding in Wave, an African cell cash app that endeavors to make Africa the primary cashless continent.
What’s the outlook for the Stellar Lumen worth?
XLM may rally larger over the approaching hours regardless of underperforming in opposition to Bitcoin and Ether.
At press time, XLM is buying and selling at $0.1124. However, if the broader cryptocurrency market continues its optimistic begin to the week, XLM may rally towards the $0.120 resistance stage earlier than the top of the week.
Stellar Lumen technical evaluation
The XLM/USD 4-hour chart is nonetheless bearish regardless of Stellar Lumen performing effectively during the last 24 hours. The technical indicators present that XLM’s worth motion is enhancing.
The MACD line stays under the impartial zone however is slowing transferring larger, indicating that the bulls are slowly taking management.
The 14-day relative power index of 56 additionally reveals that XLM is now not in the oversold areas and will soar larger quickly.
If the bulls stay in cost, XLM may surge previous the primary main resistance stage at $0.1169 earlier than the top of the day.
However, XLM would want the help of the broader crypto market to cross the second main resistance stage at $0.120 for the primary time in three weeks.
How to purchase Stellar Lumen?
Follow these easy steps to purchase Stellar Lumen:
Step 1: Open an eToro account:
Visit the official eToro web site and open an account inside a couple of minutes.
Step 2: Fund your account:
Fund the newly-opened eToro account along with your native fiat foreign money. You can deposit as a lot as you need.
Step 3: Start buying and selling Stellar Lumen:
You can instantly begin buying and selling Stellar Lumen in opposition to a number of different cryptocurrencies like Bitcoin or in opposition to fiat currencies like GBP or USD.
Where to purchase Stellar Lumen now
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