TL; DR breakdown
- An excellent price prediction shows that the crypto coin saw its price rise 37 percent to be above the $ 0.61 region.
- On the ascending triangular pattern, the area of $ 0.61 is on the top.
- Increased buying pressure could push Stellar another 30 percent towards the $ 0.9 mark.
- Price consolidation is likely to take place in Stellar’s current demand region at $ 0.59 to $ 0.64.
At the beginning of the weekend, Stellar is currently under massive buying pressure, hence the current upward momentum. The crypto coin isn’t the only currency enjoying the sustained positive outlook as the entire cryptocurrency market and global financial markets bask in the glory as well. At the time of writing, Stellar is swapping hands for around $ 0.66.
Stellar Price Prediction: General Price Overview
Recently, Stellar received fundamental developments on its platform that support its current bullish stance. For example, USDC Token recently announced its collaboration with the Stellar platform. Additionally, one of the USDC affiliates, Tala, announced the ability for its users to access Stellar in their virtual wallets. All of these developments increase cross-border transactions with Stellar.
On the other hand, convection companies like VISA and PayPal are also showing an interest in including USDC in their business operations. This means that PayPal and VISA users can buy goods and services with their crypto assets worldwide. Currently, Stellar is up nearly 450 percent in value, with the uptrend accelerating this week following the announcement by Tala and VISA. These two companies can bring Stellar to widespread adoption, increase availability to a wider group of users, and in turn help ensure low-cost wire transfer rates for users around the world.
Excellent price movement over the past 24 hours
According to Stellar’s 12-hour chart, the crypto coin has exceeded its local range at $ 0.61, forming a demand range between $ 0.58 and $ 0.64. The MRI technical indicator signaled a yellow down arrow, which is an anticipated spike. This means that a short-term price reversal is imminent if Stellar continues to see positive gains.
It should therefore be noted that price consolidation around the demand region of $ 0.58-0.64 is most likely. Stellar is currently experiencing a sideways price movement, a trend that will increase buying pressure and trigger a massive bull run. This bullish momentum is likely to result in a significant price spike towards the $ 0.85 mark.
Stellar 4 hour chart
According to the 4-hour chart, Stellar’s upward momentum depends on the demand area’s ability to cushion a fall in Stellar prices. However, a breakdown after that region would result in a 7 percent price correction to propel crypto towards the $ 0.57 region. If the crypto coin manages to record a 12-hour candlestick near below the $ 0.57 region, Stellar’s bullish tale will vanish and a bearish season will begin. In these circumstances, Stellar could see a price decline towards the $ 0.51 region coinciding with the 50 percent Fibo retracement level.
The second largest German stock exchange, Borse Stuttgart, today announced the exchange-traded bonds of Stellar and Cardano on its platform. This brings the total number of virtual assets on its platform to 22. During its announcement, the exchange platform announced that these cryptocurrencies would be tracked based on the euro. This is another development that is sure to have a positive impact on cryptocurrency.
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