Stellar Lumens (XLM) Price Prediction and Analysis in May 2021
Stellar Lumens is still one of the most popular cryptocurrencies on the market in 2021. In this XLM price prediction, we will be looking at important market opinions, historical prices, and significant developments to help you make an informed investment decision.
Today, XLM is the 14th largest cryptocurrency according to its market cap of $14,748,813,150. The circulating supply is 23.08B XLM, which is 46% of the total supply of 50,001,803,213 XLM. The 24-hour trading volume for the asset is $4,848,155,125.
XLM Price Prediction: Analysis
XLM has experienced slow but steady growth since late 2020, which has continued into 2021. It went up from $0.078 in November 2020 to $0.653 now, a growth of over 800%. This makes it one of the most profitable assets in 2020 and, despite the fact that other assets have gained more than that in just 2021.
The bull market may still be on, but not without occasional pullbacks. There has been one recently, led by Bitcoin. Although this has not affected absolutely every cryptocurrency, XLM is one of those affected. In spite of this, there are still signs of potential growth going forward. A look at the daily chart of XLM/USD shows that there is no sign of a trend reversal yet.
This is indicated by the moving averages, which have not experienced a death cross, meaning the price is maintaining healthy growth. A golden cross occurred on 21 April, reversing the downward trend, and the price has been growing since then. However, this may not continue to be the case if the current pullback continues for a longer period.
The relative strength index shows that there is still room for the price to appreciate as the reading is at 61 currently. In a typical bull market, this would mean that the price is not even close to being ready for a correction, and this could become the case if the market bounces back in the short term. If buyers step in at this point or any point soon, the price rise may continue into the month.
The following are key support and resistance levels that traders should keep in mind when trading XLM as calculated by Walletinvestor:
- Resistance Level (R3): 0.898;
- Resistance Level (R2): 0.837;
- Resistance Level (R1): 0.749;
- Pivot Point: 0.688;
- Support Level (S1): 0.599;
- Support Level (S2): 0.538;
- Support Level (S3): 0.449.
XLM has recently hit a new all-time high for the first time since 2018. Many are wondering what is driving the growth. There could be several different reasons, one of which is the growing interest in the asset. Reports indicate that XLM has been listed and can now be traded on the second-largest stock exchange in Germany, Börse Stuttgart. Launched in the form of Exchange Traded Notes (ETNs), the asset was listed alongside Cardano (ADA). This brings the number of ETNs on the exchange to 22.
According to the exchange’s director of trading, the listing of ETNs was informed by the growing interest in cryptocurrencies and the strong momentum of growth. The gesture is meant to give investors access to participation in the price development of these assets through exchange-traded securities.
This could significantly boost interest in XLM as the listing facilitated by Bitshares has brought it to mainstream investors on a large traditional stock exchange, such as Börse Stuttgart.
Stellar XLM Price Prediction: Market Opinions
The following are market opinions of major price prediction sites on the likely performance of XLM in May 2021.
Walletinvestor is bullish on XLM. Their Stellar Lumens price prediction is that the price will reach a maximum of $0.759 in the next 14 days. Moreover, they believe that XLM could reach a new high in May 2021. The lowest expected price is $0.526.
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Digitalcoinprice sees XLM hitting a new high of $0.92655956 in May. The XLM price prediction for this website is one of the most bullish for the month. If the Stellar Lumens price prediction comes to pass, the asset’s price will increase by 45.51%.
This website’s Stellar Lumens price prediction says that the price of the asset will reach a high of $0.90 in May. The least expected price is $0.50.
30rates gives another bullish XLM price prediction. The price of the asset is expected to go as high as $0.919 during the month of May. The minimum expected price is $0.620, while the closing price is predicted to be $0.859. Below is Stellar Lumens price prediction for the second half of May according to this site:
Stellar Lumens Price Prediction: Verdict
As we can see, the current indicators show that XLM’s price is not about to go in a downward direction soon. Moreover, Stellar Lumens price predictions from major websites also point out the bullish sentiments they have for it for the month, which suggests that May could be a good one for XLM.
Featured image: thecurrencyanalytics.com