As the weekend almost dawns upon the cryptocurrency industry, there will be a lot of possible scenarios which can play out. It would appear there is plenty of positive market momentum right now, although that can easily evaporate when people least expect it. The Stellar price is still going strong at this time, although its trading volume could use a healthy nudge.
Stellar Price Resumes the Bullish Trend
It is only normal all of the top alternative markets follow Bitcoin’s trend during these peculiar times. Luckily for traders, the overall momentum is very bullish, which makes for a rather enjoyable week so far. Stellar holders and enthusiasts will be happy with the way things are going, as the push to $0.13 is still in full effect right now.
Over the past 24 hours, the Stellar price gained 7.66% to bring its USD value back to $0.126827. There is also a 4.5% gain in XL/BTC as that ratio now sits at 2,540 Satoshi. Traders could not ask for more at this time, other than perhaps an increase in overall volume. Just $442m in trades is not necessarily too great during these times.
No one will be surprised most of the XLM-related discussions on social media pertain to the price and where Stellar may be heading next. Nick V expects now is the last time to sell for a while, although it remains to be seen how this chart will pan out. A big leg down wouldn’t be too surprising, but it isn’t too likely either.
May be the last time to sell for a while on XLM. RSI divergence on 15 min. 5 waves up for our c wave. Now I’m thinking we will have a bigger C wave down. #XLM $XLM pic.twitter.com/vhVPTvUWR8
— Nick V (@NicholasVoise) April 5, 2019
BenjpTrades wonders if XLM will be capable of breaking out of this downward channel in a successful manner. It is difficult to predict what the weekend will bring, as another rejection at this key level will potentially trigger plenty of bearish pressure in the following days. For now, the uptrend seems in place, but this situation can change at any given time.
So close. #xlm #stellar pic.twitter.com/jHPjBLziTN
— BenjpTrades (@Ben_JaminP) April 5, 2019
Last but not least, Bobby Atkins has an interesting view on XLM’s price performance. His trading methods have seemingly paid off in the past few months, although the chart seems to confirm this uptrend may have topped out already. It is evident these gains will be met with a correction of sorts sooner or later, but no one knows exactly when that will be.
#XLM – 2hr
I listen to my stoch and rsi indicators. make trading more of a science than art. statistically in the long run you’ll win vs. those who go with a feeling.
I day trade 30% of my bags and leave the rest. Now my XLM bag is at $.093.#crypto #cryptotrader #Stellar pic.twitter.com/m4YmGrAXE0
— Bobby Atkins (@WolfpackCrypto) April 5, 2019
All things considered, there is no reason to complain about XLM or any other top crypto market right now. The positive trend remains intact, which is rather unusual on a Friday afternoon/evening. As such, the next few days will either offer more of the same, or a completely adverse trend. Either way, there will always be money to be made or lost, regardless of the overall market sentiment.
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.
Image(s): Shutterstock.com
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