It would appear this weekend is off to a somewhat good start where the top cryptocurrencies are concerned. Most of the top 10 coins and assets are in the green, albeit some a bit more spectacularly than others. Stellar’s XLM appears to be making some moves again, a sits value seems to be heading to $0.25 once again.
XLM Price is Trying to Push Through Resistance
It has become apparent weekends are usually filled with unusual trading momentum for the top cryptocurrencies. This week will not necessarily be different, as altcoins will follow Bitcoin’s momentum first and foremost. So far, the world’s leading cryptocurrency hasn’t shown much momentum, albeit there is no loss to be noted either. A bit of uneasy momentum remains in place, for the time being.
For XLM, however, there is a gain in both USD and BTC value. The net 4.6% gain in USD value pushes XLM back to $0.235. It seems a jump to $0.25 shouldn’t take overly long, although one never knows how trading behavior develops first and foremost. There is also a 4% gain over Bitcoin, which is equally interesting to keep an eye on.
The biggest development for Stellar’s XLM this week is how the Trezor hardware wallet will support this digital asset moving forward. Although this firmware is still in beta, for the time being, it further shows there is a lot of support building for XLM as of right now. That is only normal, as developments like these allow users to keep funds safe at all times.
As has become somewhat common these days, there are always rumors regarding Coinbase. In the case of Stellar’s XLM, there are plenty of people who hold out high hopes for seeing this asset listed on the exchange in the coming weeks. While that may certainly be a possibility, speculating on such things without official confirmation serves no real purpose
— Crypto Enthusiast (@HynerLukas) November 3, 2018
Traders and speculators are also keeping a close eye on this market moving forward. It would appear some users think there will be no further uptrend, even though this present momentum remains rather promising. There are always a lot of uncertainties where crypto and digital assets are concerned, and any uptrend can be turned into a net loss fairly quickly.
#Stellar Lumens [#XLM/#USD] Technical #Analysis: Bulls out of sight as bears roam wild from Ambcrypto – #News #Social #StellarLumens #TechnicalAnalysis #TradingView #XLMUSD – Read more at https://t.co/nvWfBVq45c pic.twitter.com/eQcciS8wxC
— Criptalk (@criptalk_com) November 3, 2018
The XM trading volume, while still a bit on the low side, should be sufficient to push the price all the way to $0.25 over the weekend. Any gains beyond that point will be difficult to achieve, let alone sustain. Everyone is waiting for a major rebound right now, but it may be a while until early 2018 prices are established once again. Until Bitcoin shows some major momentum, the rest of the markets will remain subdued as well.
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.