It would appear today might end on a slight high for all cryptocurrencies after all. After another day of primarily sideways trading, XLM is finally ready to make some moves again. A recent gain seems to push the value to $0.25 again, although reaching that milestone will be quite challenging during the weekend.
XLM Price is in the Green Again
It is refreshing to see the top cryptocurrencies in the green again. Although no major momentum has materialized over the past few hours, some interesting uptrend can be noted regardless. The XLM price, for example, is going through some positive momentum which is seemingly sufficient to push the value to $0.25 once again.
Over the past 24 hours, the XLM value has noted a 3.5% gain in the USD department and a 4% gain over Bitcoin. It is especially this latter part which has a lot of people excited right now, as it shows things may turn out quite alright over the weekend. The push to $0.25 is in full effect, despite the overall trading volume for XLM remaining well below $60m at this stage.
Looking across social media, it is evident everyone is concerned about the price first and foremost. Crypto Pack completed a nice 5% gain in value by trading XLM on the Binance exchange. It is evident all altcoins and assets will see a massive bounce at some point, although the uptrend is not materializing as of yet.
— Crypto Pack (@CryptoPack1) October 19, 2018
BTCTradingSignals echoes a very similar sentiment. Although advice from pump-and-dump groups should never be taken at face value, the team is confident XLM is worth holding right now, especially because of the current uptrend. Even so, all currencies are worth holding if people believe a working project will be created at some point.
TRADING SIGNALS (systematic portfolio)📈📉:
About 15 h ago we sold #BTC at USDT 6619 (only one day after having bought).
Risks are too high at the moment and BTC didn't show the hoped-for movement in short term.
HOLD:#XLM (sl 0.2096)
— BTCTradingSignals (@BTCTradingSig) October 19, 2018
In other news, it would see a lot of people have high hopes for the upcoming Simos conference. McGregorMafia is confident this event will provide a healthy price nudge for XLM, even though it is a bit unclear what the future will hold for all cryptocurrencies in this regard. Such annual conferences can be of great value, and they often help shape the next major financial trend.
— McGregorMafia (@McGregorMafia) October 19, 2018
Based on the current market circumstances, it will be interesting to see how long it will take for the XLM price to reclaim $0.25. Additionally, there are a lot of concerns as to how long it will remain at that value, which poses another big challenge. This coming weekend may prove to be quite interesting after all, even though nothing has been set in stone yet.