Stellar Lumens (XLM) Price Prediction and Analysis in January 2020
Today, we will be reviewing some of the market opinions and Stellar Lumens historical prices, so that we can formulate an XLM price prediction for January 2020.
The Stellar project was developed by Jed McCaleb, initially as a fork of Ripple, but then in 2015, the platform was rebuilt and had its blockchain changed.
The Stellar platform facilitates free conversion and exchange of fiat and digital assets created with the purpose of supporting fast, cheap, and secure global transactions.
The native crypto of the platform is the XLM coin. Stellar is ranged as 14 in the global cryptocurrency rating, with a market capitalization of $1.131 billion with an average daily trading volume of $347.188.167. There are 19.993.834.855 XLM coins in circulation out of a total supply of 50.001.803.906 XLM.
Stellar Lumens (XLM) Price Prediction: Analysis
In the past 30 days, XLM coin has succeeded in getting an increase of 23.57% in price. The coin is expected to maintain its new price for a while before there will be a brief price correction.
On December 18, Stellar was trading at $0.043048, which also marked the first significant dip of the month. Over the following 15 days, XLM coin went through a downward correction, which lowered the coin’s value from $0.045118 to $0.043438 on January the 1st.
But on January 2nd, Stellar showed signs of recovery and the start of a bullish movement. Five days later, the coin reached a value of $0.050755, which signified an increase of 16.91% in value. The next significant price increase occurred on January 14th, when the coin closed at $0,052115, and on January 15th, when it reached a high of $0,055470 and closed at $0,054789.
Yesterday, January 16th, XLM coin traded at an opening price of $0.052404, and in just an hour, the coin shot up to $0.054883 by 4.73%.
In the past five days, XLM experienced an increase of 23.03%, which helped the coin reach a new monthly high of $0.056360. According to the current movement, the next resistance is set at $0.056.
Today, January 17th, XLM is trading at $0,056578, with an increase of 7,78% over the past 24 hours.
The current pivot, resistance, and support levels calculated by Walletinvestor are:
- Resistance Level (R3): $0.0583
- Resistance Level (R2): $0.0567
- Resistance Level (R1): $0.0552
- Pivot Point: $0.0536
- Support Level (S1): $0.0521
- Support Level (S2): $0.05045
- Support Level (S3): $0.0490
In October 2019, Stellar halted its inflation mechanism by updating its protocol. Since then, the Stellar Development Foundation burned 5 billion XLM from their fund as well as other 50 billion XLM planned for airdrops. This led the Foundation to earn 5.4 billion XLM just from the inflation process.
In terms of development, not much has been announced in the past months. The new VISA partnership with Plaid is expected to challenge Stellar, as it will increase the speed through which the payment processing giant makes its transactions.
Stellar Lumens Price Prediction: Market Opinion for January 2020
There have been several websites that have launched their own XLM price prediction for January 2020, so we decided to include some of them in our article to give you a better feel of the market sentiment for Stellar.
Longforecast predicted that XLM would be at the start of January at a price of $0.045. They calculated that the maximum price for the month would be $0.064, with a minimum price of $0.043. The month’s average price was estimated at $0.052. The site expects the month to have a closing price of $0.056, change for January 24.4%.
WalletInvestor made daily price predictions for XLM, along with its minimum and maximum price.
|Date||Price||Min Price||Max Price|
Coinpredictor expects Stellar to experience in January a decline of -0.2% , which will place the coin around $0.045569.
Cryptoground has forecasted that in one day, XLM will have a value of $0.0687, which signifies an increase of 21.70%, and in one week, they expect the coin to reach $0.0667, which signifies an increase of 18.12%.
Changenow projected that in the first month of 2020, Stellar is expected to increase the rate of $0.24.
Cryptorating has predicted that in one day, XLM will have a value of $0.057406, which signifies an increase of 4.42%, and in one week, they expect the coin to reach $0.070615, that signifies an increase of 28.44%.
Gov.capital’s XLM prediction for January 31 was that Stellar will be trading at an average price of $0.0475, with a maximum price of $0.0479, and a minimum price of $0.0470.
Digitalcoinprice predicted that in January, Stellar would be trading hands at $0.12578490, which would mean an increase of 124.53 %.
Altcoinforecast expects XLM to reach $0.098 at the end of January.
Stellar Lumens Price Prediction: Verdict
This has been our XLM price prediction for January 2020. We hope that the information we have supplied in this article has been of help to you in formulating your own trading predictions.
Featured image: cryptocointrade.com