As the weekend trucks along, a lot of cryptocurrencies enjoy a positive price spell. That is not uncommon, as Sundays are usually a bit different from the rest of the week. The Stellar Lumens price, for example, is well underway to hit $0.1 again. It also recently reclaimed its market cap spot in the top four, after being briefly overtaken by Tether.
Stellar Price Puts on Big Boy Shoes
After yet another horrible week for all cryptocurrency markets, things are finally looking up again. Moments like these are usually shortlived throughout 2018, thus they need to be enjoyed to the fullest In the case of the XLM price, there are small gains across the board. If this trend remains in place a while longer, there may very well be a push to $0.1 again. That would be of great psychological value, if nothing else.
Over the past 24 hours, there has been an interesting change in the XLM price. Not only is there the 4.4% increase in USD value to reach $0.098, but there is also a 2.4% increase over Bitcoin. This latter development will become even more important as time progresses. If altcoins and assets want to succeed, they need to decouple from Bitcoin as quickly as possible.
On social media, it would appear a lot of people are excited about the ongoing “battle” between Litecoin and XLM. That is rather peculiar, although it is evident Stellar Lumens currently has the market advantage. That situation may change relatively soon, as Litecoin is also noting some very strong gains over the past few hours.
— Mr T (@Pity_The_Foo) December 16, 2018
For Philipe Michael Da Silva, the current XLM price trend is a more than welcome sight. He doesn’t mind to see this value below $0.1 as that signals a strong buy signal in his opinion. As such, there is still some to buy to scoop up Stellar Lumens at current prices, although one has to wonder if and when the value will surpass $0.1 again.
#XLM Stellar back under 0.10! Thats a buy for me all day
— Philipe Michael Da Silva (Lysus) (@PMichaelDaSilva) December 16, 2018
While the current price momentum looks somewhat promising first and foremost, there is always a genuine chance the momentum will turn pretty bearish once again. Brian Michael expects this to happen sooner rather than later, even though XLM’s hourly charts show no signs of resistance just yet. That may come to change as the evening approaches, though.
— ∞Brian Micheal∞ (@CryptoNaut11) December 16, 2018
With all of this information in mind, the Stelar price increase is anything but surprising at this time. While it may not necessarily remain in place for very long, it is something a lot of users will enjoy for the time being. A push to $0.1 would be a lear bull signal first and foremost, yet that doesn’t mean that level will turn into support automatically.
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.