Based on this weekend’s cryptocurrency momentum, the coming days and weeks may prove to get quite interesting after all. Despite some medium-sized setbacks on late Friday and throughout most of Saturday, it seems the situation is improving gradually. For the Stellar price, things, are looking quite good right now following some much-needed gains across the board.
A Healthy Stellar Price Jump
After another rough start to the year, it seems the cryptocurrency and digital asset markets may finally go through some positive momentum next week. Although it is still difficult to predict what the future will hold, some of the signs offer a glimpse of hope right now. The Stellar price, for example, is going through a bit of an unexpected positive spell on this Sunday. Although the gains are minimal, there is plenty of optimism among community members.
Over the past 24 hours, there has been a small but notable Stellar price increase in both BTC and USD territory. Especially the XLM/BTC ratio is interesting to keep an eye on right now, as one XLM is nearly valued at 3,000 Satoshi again. In the USD department, it would appear the value per XLM will surpass $0.11 at some point later today. Turning that into a new support level is a different matter altogether.
A few key developments have taken place within the Stellar Lumens ecosystem this week. First of all, there is the launch of three Stellar Full Nodes by SatoshiPay, as the company continues to work on ensuring global payments become a feasible reality. Their support for Stellar ensures other network nodes can join the network and improve overall resiliency over the coming weeks and months.
.@SatoshiPay launched a cluster of three full validators. Full validators both participate in consensus and store the full network history, helping other nodes join the network and improving network resiliency: https://t.co/cISNqVQM3b
— Lumenauts.com (@lumenauts) January 12, 2019
Secondly, it seems the Blockchain.com team is in the process of distributing their XLM tokens to wallet users. Although not everyone has gotten the email to claim their tokens yet, it appears this process is heading in the right direction as of right now. Getting XLM into the hands of more people can aid in overall adoption of this asset, albeit it is safe to say a fair few of them will be sold on exchanges right away.
@blockchain all say that they get they #XLM why i didn't get it is there any problem
— Barakotta (@barakotta_1) January 13, 2019
Last but not least, the XLM price chart looks rather appealing to investors and speculators as well. There is a bullish divergence forming on this particular chart, although that doesn’t automatically mean the price per token will rise accordingly either. Even so, it shows things may finally improve in this industry after a few very rough months. That is all one can ask for at this time.
Great longer term risk/return right now on #Stellar. At the very bottom of its huge pennant with a bullish divergence. Picking some up with S/L set at 2830. $XLM $STR #XLM #crypto
— The Crypto Corgi (@BCorgi12) January 13, 2019
When taking all of this information into account, it would seem as if next week may prove to be a pivotal point for Stellar Lumens. A lot of puzzle pieces have come together recently, which should lead to some interesting price movement accordingly. Whether that will be upward or downward momentum, remains difficult to predict. All it takes is a bearish one-hour candle to send the industry in a downward spiral for multiple days.
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.
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