Stellar added to Revolut as a payment option, aiming for new highs

  • The XLM price will have to defend a critical level of support in the short term in order to reach new highs.
  • The digital asset was added as a payment option on the Revolut banking platform.
  • The Stellar blockchain had a technical problem this week and released a report addressing the matter.

Stellar has seen a strong upward trend over the past two weeks and was recently added as a payment option for Revolut. The blockchain faced technical issues that have been fixed.

Stellar blockchain is going down briefly

The Stellar blockchain had a significant technical problem earlier this week, with affected nodes having about 10 hours of downtime. The problem was fixed and the Stellar Development Foundation (SDF) stated that the network itself was not affected and did not stop.

The investigation shows that the problem could be caused by a ledger; However, the exact reason is not yet known. Several exchanges have temporarily suspended XLM deposits. The SDF added:

It’s exactly the way a decentralized network is supposed to work, and many of these reviewers have continued to publish archives that track the history of the ledger and allow the suspended nodes to fill in loopholes when they need to recover from downtime.

Not all of them are bad news as London-based payment platform Revolut announced on Thursday the integration of 11 new tokens, including XLM as payment options. In addition, thanks to Revolut’s partnership with Paxful, customers can also trade the new cryptocurrencies.

The XLM price remains in a short-term upward trend

On the 4-hour chart, XLM has managed to maintain an uptrend above the 50 SMA, which is currently at $ 0.466. Bulls have confirmed a 4 hour uptrend and are targeting a new higher low above $ 0.466.

XLM / USD 4-hour chart

The strongest level of resistance is the previous high of $ 0.508. A break above this point could quickly propel XLM price towards $ 0.578, a high formed on April 6th.

xlm price

XLM / USD 4-hour chart

However, the loss of 50 SMA support would be remarkable as there aren’t that many pivot points on the way down. The next support is the 100 SMA at $ 0.427, followed by the 200 SMA at $ 0.414.

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