Stellar Price Prediction 2021 – Will XLM Hit $0.8 Soon?

Stellar Price Prediction 2021 - Will XLM Hit $0.8 Soon?
  • Bullish XLM price prediction ranges from $0.4536 to $0.6503.
  • XLM price might also reach $0.8 soon.
  • XLM bearish market price prediction for 2021 is $0.0663.

In Stellar (XLM) price prediction 2021, we use statistics, price patterns, ADX, and much other information about XLM to analyze the future movement of the cryptocurrency

Stellar was launched in July 2014. It is an open network that enables cash to transfer and store. At the launch, its main goal was energizing financial inclusion by achieving the world’s unbanked. Later, its priorities changed to help financial firms connect with one another through blockchain technology.

According to CoinGecko, the Stellar price is trading at $0.321 with a 24-hour trading volume of $564,134,347, at the time of writing. However, XLM has increased by 2% in the last 24 hours.

Moreover, XLM has a circulating supply of 23,679,963,925 XLM coins. Currently, XLM trades in cryptocurrency exchanges such as Binance, Huobi Global, OKEx, CoinTiger, and FTX.

Stellar XLM Price Prediction 2021

XLM holds the 27th position on CoinGecko right now. Stellar (XLM) price prediction 2021 explained below in the weekly time frame. 

XLM/USDT Chart Showing Descending Triangle Pattern (Source: TradingView)

A descending triangle is a bearish chart pattern that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. It is a sign for traders in a short position to accelerate a breakdown. Among the traders descending triangle is a very popular chart pattern because it clearly shows the demand for an asset.

Currently, XLM is waving at $0.3156. After this, XLM may continue to fall or rise according to the breakout. With this pattern, XLM will violate the upper trendline reaching $0.8 soon. If the trend reverses, then the price of XLM may fall to $0.2.

Stellar XLM Support and Resistance Level

The below chart shows the support and resistance level of Stellar (XLM).

XLM/USDT Support and Resistance Level (Source: TradingView)

From the above time frame, it is clear the following are the resistance and support level of XLM.

Resistance Level 1$0.4536
Resistance Level 2$0.5368
Resistance Level 3$0.6503
Support Level 1$0.3162
Support Level 2$0.1938
Support Level 3$0.0663
Resistance & Support Levels

The chart indicates that XLM shows bullish performance over the past month. However, if the trend continues, XLM might run along the bulls overtaking its resistance level at $0.6503. In contrast, if the investors turn against the crypto, the price of XLM might plummet to almost 0.0663, a bearish signal.

Stellar XLM Average Directional Index (ADX)

Now let us focus on the Average Directional Index (ADX) of XLM. Notably, the ADX helps traders to determine the strength of a trend, rather than its actual direction. More so, it can be utilized to find whether the market is changing or a new trend begins. However, it is associated with the Directional Movement Index (DMI).

Evenmore, the range of the oscillator is from 0 to 100. Added to this, a high value indicates a strong trend, and a low value represents a weak trend. Moreover, it is mostly combined with directional indicators. 

XLM/USDT ADX(Source: TradingView)

The above chart shows the ADX of XLM stays above the range of 17.27, so it indicates a weak trend.

Conclusion

The XLM is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term XLM price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.87 this year. However, this will only happen if it breaks many previous psychological resistances.

Furthermore, with the ongoing developments and upgrades within the XLM ecosystem, it could experience a great future ahead in 2021. It may reach 0.65 soon and it might even reach high heights, however reaching $0.8, if investors have planned that XLM is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Recommended Articles

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.