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Stellar Lumen (XLM) has to cross some hurdles to move past the current price level

As it is known when any digital currency enters into a partnership with any major company, the movie gives a boost to the digital currency in the market. The token gets greater acceptance, usage, and popularity. A major altcoin, Stellar Lumen (XLM) has entered into a partnership with Keybase, an encrypted social media that has maps and a messenger to launch 120 million dollar airdrop. It remains to be seen in the coming days how this partnership works out.

At the time of writing this article, Stellar Lumen (XLM) was trading at $0.06 against the United States dollar (USD). The coin was showing a negative trend and downward fall of – 1.35 percent in the crypto market. The market cap of the coin was $1.19 billion United States dollar (USD) and the market supply was 19.6 billion. Stellar Lumen (XLM) has shown a decline over the past month as it was trading our dollar $0.073 against the United States dollar (USD) and now it has now fallen quite low from this point as we can see.

In the short term, the coin is going to be in a bearish zone as the MACD line suggests. The Relative Strength Index (RSI) is near 50 marks showing a neutral stance. Stellar Lumen (XLM) may face the resistance level of $0.0616, $0.0633, and $0.0650 respectively against the United States dollar (USD) and the support level of $0.0581, $0.0565, and $0.0547 respectively against the United States dollar (USD).

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About Ritika Sharma

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Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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