Stellar (XLM) Price Awaits Nearing Golden Cross

Stellar (XLM) Price Awaits Nearing Golden Cross
  • The most eco-friendly cryptocurrency is Stellar.
  • A bounce back to the five-month highs of $0.4436 is possible.

Stellar is a decentralized network for transferring and storing money. After its July 2014 debut, it turned its focus to facilitate financial companies’ interaction via blockchain technology. Lumens, the network’s native cryptocurrency, facilitates cross-border asset trading. To compete with incumbent payment providers, which sometimes demand excessive fees for similar services.

Stellar Lumens (XLM/USD) remains negative as the new week begins on Sunday, ranging between $0.40 and $0.36. While waiting for the next major move, Stellar (XLM) price has lost 1.50 percent to trade at $0.3730.

Most Eco-friendly Crypto

A new analysis by Forex suggests that the most eco-friendly cryptocurrency is Stellar, a rival to Ripple that consumes just 0.00003KWh per transaction, less than a third of what IOTA requires. Stellar uses 0.00072 oz CO2 each transaction, compared to Bitcoin’s 1,060.5 lbs.

On the daily chart of Stellar Lumen, the price has been challenging the bullish barriers at the horizontal 21-Daily Moving Average (DMA). This Sunday, the 21-DMA connects the higher lows since October 27. At $0.3710, we get a robust defense.

XLM/USD: Source: TradingView

Extra push will be provided towards the daily closing to the XLM bears, as it seems to the extent the latest negative move towards the horizontal 200-DM at $0.3568. The upward-sloping 50-DMA approaches it. XLM buyers are now considering their possibilities as the 50-DMA approaches the 200-DMA. On a daily closing basis, a golden cross would be verified, sending a strong bullish signal.

A bounce back to the five-month highs of $0.4436 is possible. Until then, the $0.40 psychological impact may obstruct recuperation. The 14-day RSI points south but remains above the centerline, supporting the bullish potential. According to CoinMarketCap, the Stellar price today is $0.370161 USD with a 24-hour trading volume of $484,333,334 USD. Stellar is down 1.39% in the last 24 hours.

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