There is no shortage of optimism when it comes to dealing with different cryptocurrencies. Even the short-term price predictions are all over the place right now, which is indicative of the current market trends. In the case of Stellar Lumens – or XLM – it would appear things will get very interesting, either for better or worse.
Stability can Swing Either Way
Although most people will probably not have noticed it, the Stellar Lumens price has been relatively stable. This is somewhat on par with how XRP’s price evolves, although both projects are valued at very different levels. As such, trader LinMas is wondering how this perceived stability will help the XRP value in the future. There is a good chance XLM will either break out or face another slump over the coming days.
To put this in perspective, the XLM/USD ratio has been fluctuating a bit in both directions. There is a good chance Coinbase will add XLM at some point, although the popular exchange has never confirmed anything along those lines. That would create a lot of hype, although no listing could easily push the price down again. As such, there is a potential dip to the low $0.11 range on the horizon, unless the value would surpass $0.135 in quick succession and turn it into a new support level.
XLM Has Bottomed Out
Many people would love to see all cryptocurrency and digital asset markets bottom out sooner rather than later. So far, that has not happened in the slightest, even though this weekend has shown bullish momentum can materialize out of nowhere. The chart shared by Xuanhainmoer seems to indicate the XLM price may have officially bottomed out, albeit he also confirms the next drop-off may push the price down to $0,063.
Even so, the current price should be a healthy level to start accumulating XLM once again. It is expected this asset will hit $0.5 by April of 2019, although there is zero indication such a strong uptrend can materialize. Compared to current prices, that would represent a 450% increase, which doesn’t seem all that plausible.
Short-term Bearish Before the Pump
Every time CryptoManiac101 pints out a price chart, things will get either extremely bullish or massively bearish. In the case of his XLM price chart, the short-term outlook is somewhat bearish. The XLM price has hit the low point outlined on this chart several months ago, as it has dropped below $0.12 a few days ago.
Now that this dip is over, however, this trader is confident XLM will surpass the $1.2 level in the coming months. In fact, it may hit anywhere from $10 all the way up to $120 in the coming twelve months. An insane projection first and foremost, but stranger things have happened in this industry when people least expected it.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.