In this Stellar (XLM) price prediction for 2024, 2025-2030, we will analyze the price patterns of XLM by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Stellar (XLM) Current Market Status
What is Stellar (XLM)
Stellar (XLM) is the native cryptocurrency of the Stellar network. The token is well-known as Stellar Lumens (XLM). Stellar is a peer-to-peer (P2P) decentralized payment network that was launched in 2014. Stellar Lumens (XLM) is used as the transaction fees on the network. It also serves as the intermediate payment currency across cross-bridge transactions.
The supply of XLM and the network’s development is supported by Stellar Development Foundation (SDF), Stellar’s native non-profit organization. Stellar network secures its blockchain with Stellar Consensus Protocol (SCP). SCP is a modified consensus mechanism that is based on the Federated Byzantine Agreement (FBA). Hence, nodes are selected based on voting and later verify and validate transactions onto the distributed ledger.
The Stellar network also holds its own decentralized exchange. Stellar network bridges the off-chain financial institutions to the on-chain payment ecosystem. Thus, its prime motto is to accelerate the mission of banking the unbanked.
Stellar 24H Technicals
Stellar (XLM) Price Prediction 2024
Stellar (XLM) ranks 29th on CoinMarketCap in terms of its market capitalization. The overview of the Stellar price prediction for 2024 is explained below with a daily time frame.
In the above chart, Stellar (XLM) laid out a horizontal channel pattern. In general, the horizontal channel is formed during price consolidation. In this pattern, the upper trendline, the line that connects the highs, and the lower trendline, the line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
At the time of analysis, the price of Stellar (XLM) was recorded at $0.09652. If the pattern trend continues, then the price of XLM might reach the resistance levels of $0.1137, $0.1667, and $0.2606. If the trend reverses, then the price of XLM may fall to the support of $0.0751.
Stellar (XLM) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Stellar (XLM) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of Stellar (XLM) for 2024.
Stellar (XLM) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (XLM) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Stellar (XLM) market in 2024.
Stellar (XLM) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Stellar (XLM) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of Stellar (XLM).
Comparison of XLM with BTC, ETH
Let us now compare the price movements of Stellar (XLM) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of XLM is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of XLM also increases or decreases respectively.
Stellar (XLM) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Stellar (XLM) between 2025, 2026, 2027, 2028, 2029, and 2030.
Conclusion
If Stellar (XLM) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Stellar (XLM) price prediction for 2024 is $0.2440. Comparatively, if unfavorable sentiment is triggered, the bearish Stellar (XLM) price prediction for 2024 is $0.0704.
If the market momentum and investors’ sentiment positively elevate, then Stellar (XLM) might hit $1. Furthermore, with future upgrades and advancements in the Stellar ecosystem, XLM might surpass its current all-time high (ATH) of $0.9381 and mark its new ATH.
This content was originally published by our partners at The News Crypto.