It would appear today will be another very interesting day for all cryptocurrencies, tokens, and digital assets. Nearly all of the bearish momentum has evaporated, leaving the overall market cap intact at $130bn. Not too many projects are moving up in a decisive manner as of yet, although the Stellar price is trying to do its part.
Stellar Price Tries to Move up Again
It has not been an easy start of the year for Stellar, or XLM. Although it too benefited from the uptrend throughout February, holding on to most of those gains has proven problematic for this particular market. Climbing out of the most recently dug hole is a slow and steady process for XLM, but it would appear things are heading in the right direction once again.
In the past 24 hours, it would appear the Stellar price has returned to the $0.0868 level following a 1.73% increase. There is also a 1.25% gain in XLM/BTC to push that ratio back to 2.248 Satoshi. As such, all of the momentum seems to be in favor of pushing the price up even further. Given the $124.27m in trading volume, there is plenty of room for potential future growth.
On social media, there are some interesting developments taking place as of right now. First of all, the HTC Exodus 10, a blockchain phone, comes with a Stellar-based application as one of its default pieces of software. This allows users to earn NODL coin by using the application. Additionally, it seems users can store their Stellar secret seed on the built-in hardware wallet too.
— David Manna (@Botliamrh) February 27, 2019
MONK, on the other hand, is not necessarily too convinced about how things are going in terms of price development right now. More specifically, he is more interested in the Stellar – IBM partnership and how that will affect the ecosystem in the coming years. Moreover, he clearly sees the differences between XRP and XLM, which is something a lot of people are overlooking these days.
Personally, I would not sleep on Jed
I think xlm has a bright future
— MONK (@theCoinMonk) February 27, 2019
For those users who are looking at the XLM chart first and foremost, things are not necessarily looking all that bad. Kaizen expects the accumulation to continue for some time to come, although there is a genuine chance things will improve from here on out. Markets like these tend to evolve in mysterious ways at all times. As such, anything can happen over the coming hours and days.
Still in this bad boy, #Stellar has been getting accumulated on the smaller TF. A small ascending pattern is starting for form on the current resistance level.
-Bullish DI+ cross
– Trough on the ADX
– HL being made on RSI
Flipping this R level could be big. pic.twitter.com/2AyWZgmK1L
— Kaizen (@CryptoKeyser) February 27, 2019
All things considered, it seems all of the markets are looking to move up in rather quick succession. While another monster run would certainly appease a lot of traders, slow and steady growth will often win the race in the long run. For Stellar, pushing the price to $0.09 is not impossible, although it will require another 5% jump to do so.
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.