We will be looking into several market opinions and Stellar Lumens historical prices in order to project an XLM price prediction for February 2020.
Stellar Overview
The Stellar blockchain was launched in 2015, and it was created to support fast transactions and free exchanges between fiat and digital assets. As it was initially a fork from Ripple, it was also built with a focus on fast and low-cost cross-border transactions.
XLM is the native coin of the platform, which is currently ranked as 12th according to a market capitalization of $1,206,011,934 with $390,466,477 worth of XLM being traded in the past 24-hour period. There are 20,058,702,203 XLM coins in circulation out of a total supply of 50,001,803,906 XLM. The current price of Stellar is $0.060124, with an increase of 2,88% recorded in the last 24 hour period.
Stellar Lumens (XLM) Price Prediction: Analysis
XLM started January at $0,045118. The coin fluctuated between $0.043 and $0.046 levels until January 6th, when Stellar tested the resistance level of $0,049292. The following days XLM tested $0.050 levels while trading at around $0.048 and $0.049. XLM fell back to $0.046 and slowly began climbing back to $0.05, peaking on January 14th at $0,053480.
From then on, XLM continued to surpass new resistance level after another, reaching on January 18th at $0.064 and closing at $0.061. The coin managed to keep trading between $0.062 and $0.061 until January 23, when it fell below $0.06 support levels and started declining again.
January 26th, XLM coin opened on a bullish note, increasing from $0,056111 to $0,059546.
The next major resistance set at the $0.0620 level, and if the coin manages to break it, it could go towards the next level set at $0.0650.
Initial support has been calculated at the $0.0575 level. The main support is set at the $0.0550 level, and if XLM goes below this, another bear session could be triggered.
Charts are showing that XLM is nearing the vital support level set at $0.062. Should the coin close above $0.0600 level, this could further another bearish moment. If this fails to happen, the coin could go back towards the $0.0550 support.
The calculated pivot, resistance, and support levels by WalletInvestor are:
- Resistance Level (R3): 0.0651
- Resistance Level (R2): 0.0623
- Resistance Level (R1): 0.0598
- Pivot Point: 0.0569
- Support Level (S1): 0.0544
- Support Level (S2): 0.0516
- Support Level (S3): 0.0491
Developments
There have been no new announcements from the Stellar team regarding its partnerships and developments. The project still has a dedicated team that is working towards improving the platform, that is a good sign for investors. Their Github repositories, which are a total of 61, seem to be updated on an hourly basis, suggesting that the team is constantly working on Stellar.
Stellar Lumens Price Prediction: Market Opinion for February 2020
In the crypto space, there have been a number of websites that have made their own XLM price prediction for February 2020, and to better illustrate the market sentiment for Stellar, we have incorporated a few of them in our article.
TradingBeasts
TradingBeasts estimated that XLM would be trading at around $0.0693304 at the start of February 2020. They expect the maximum value for the coin to be $0.0840046, while the minimum price is expected to be $0.0571232. The site forecasted that XLM would close the month at $0.0672037, which means an increase of 13.42 % from today’s prices.
Digitalcoinprice
Digitalcoinprice predicted that in February, XLM would be trading at $0.12431749, with a change of 108.45 %.
Previsionibitcoin
Previsionibitcoin projected that Stellar would be changing hands in February at around $0.075878.
Longforecast
Longforecast has calculated that XLM would be trading at $0.056 when February starts. The highest value they anticipate is $0.081, while the lowest value has been estimated at around $0.050. The average price for the month was calculated at $0.060. They expect the coin to close the month at $0.054, change for February -3.6%.
Gov.capital
Gov.capital’s XLM price prediction for February 1st is that the coin will be trading at an average price of $0.01086, with the least possible price being $0.009231, and the best possible price $0.012489.
Walletinvetsor
Walletinvestor predicted that Stellar Lumens would start February with an estimated price of $0.0618, with a possible minimum value of $0.0580, and a maximum value of $0.0654.
| Date | Price | Min Price | Max Price |
|---|
| 2020-02-01 | 0.0618 | 0.0580 | 0.0654 |
| 2020-02-02 | 0.0627 | 0.0589 | 0.0666 |
| 2020-02-03 | 0.0636 | 0.0599 | 0.0673 |
| 2020-02-04 | 0.0645 | 0.06060 | 0.0685 |
| 2020-02-05 | 0.0652 | 0.0616 | 0.0688 |
| 2020-02-06 | 0.0640 | 0.06027 | 0.0678 |
Coinpredictor
Coinpredictor estimated that XLM would start February with a loss of 0.2%, which would place the coin at a value of $0.045569, and by the end of the month, it would see an increase of 18.7%, which means a value of $0.054198.
30rates
30rates issued their own XLM price prediction for each day of the month of February (without the weekends), with the average, minimum, and maximum values for every day.
- 02/03 $0.050 $0.058 $0.054
- 02/04 $0.050 $0.058 $0.054
- 02/05 $0.053 $0.061 $0.057
- 02/06 $0.051 $0.059 $0.055
- 02/07 $0.050 $0.058 $0.054
- 02/10 $0.059 $0.067 $0.063
- 02/11 $0.058 $0.066 $0.062
- 02/12 $0.058 $0.066 $0.062
- 02/13 $0.064 $0.074 $0.069
- 02/14 $0.064 $0.074 $0.069
- 02/17 $0.064 $0.074 $0.069
- 02/18 $0.064 $0.074 $0.069
- 02/19 $0.066 $0.076 $0.071
- 02/20 $0.065 $0.075 $0.070
- 02/21 $0.063 $0.073 $0.068
- 02/24 $0.061 $0.071 $0.066
- 02/25 $0.068 $0.078 $0.073
- 02/26 $0.068 $0.078 $0.073
- 02/27 $0.068 $0.078 $0.073
Bitverzo
Bitverzo predicted that XLM would close February at $0.031198, with a minimum value of $-0.074458, and a maximum expected value of $0.130188.
Stellar Lumens Price Prediction: Verdict
With this, we conclude our XLM price prediction for February 2020. We hope that the information we have featured in this article will be useful to you in creating your own trading predictions.
Featured image: namecoinnews.com
The post appeared first on Coindoo
