While Bitcoin and Ethereum are still retaining the dominant stance, there are cryptocurrencies like Ripple (XRP), Litecoin (LTC), and Stellar Lumens (XLM) that are most likely to lose their respective positions in the global ranks to the likes of Binance Coin (BNB), Tezos (XTZ), and Chainlink (LINK).
The past year was quite brutal to XLM as it lost 50% of its value in comparison to all three major currencies - USD, BTC, and ETH. However, judging solely from the recent price action, Stellar has probably the biggest chances out of the mentioned three to turn things around and embark on a secondary uptrend. But before it does that, XLM has to overcome a major obstacle, as well as defy a notorious bearish signal.
In all candor, XLM has put up an impressive performance since it had broken the resistance at $0.047 and got itself above the 50-day exponential moving average, under which it had been staying for two months.
1-day XLM/USDT chart
April 20 marked the beginning of an impressive bull run that juiced up the price by 71% in 49 days and gave the bullishly-minded traders a hope that this market could be overrun by the buyers. But now, upon reaching the critical resistance level at $0.08, XLM has got itself in an interesting situation because of the presence of conflicting signals.
While the overall price action appears to be bullish at a glance: the buyers got Stellar above the trend-determining 200-period EMA, then the price has properly tested its capabilities as a line of support, which at that time was located at $0.06, and then went on to make an attempt at $0.08. Moreover, on May 16, the price action has pulled up the 50 EMA to the point where it formed a golden cross.
Actually, that was literally the first time since late 2018 when the paths of these two moving averages had crossed, which might add significance to that particular signal. Yet it emerged right in the middle of another pattern of equal importance - the bearish divergence on the 14-period RSI. The divergence began to form in the third week of April, right when the price mounted the 50 EMA, and was finalized on May 24, after the price tested the 200 EMA for the second time. That pattern usually constitutes a very strong bearish signal, so we predict that the divergence is going to negate the golden cross, leading to a deep pullback.
This XLM price prediction is also based on the fact that the price has run head-first into a reinforced resistance that has been impenetrable since September 2018, although Stellar had already made four swings at it, but to no avail.
We would leave the 10% probability of the fifth time being a charm, and that Stellar could overpower that resistance in one go, but the presence of an undeniable bearish divergence, as well as the increase in selling volume during the last price move, leaves the remaining 90% to the bears. Plus, the 14-period Stochastic is already in the overbought area and crossed to the downside, so the pullback is practically imminent. It could be either to the middle line of Bollinger Bands ($0.72), or the price will drop to (or even below) the 200 EMA or $0.063.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||87.6%||20||$20 080.91||4.60%||-0.63%||$384 928 648 027|
|2||ETH||Ethereum predictions||63.6%||82||$1 352.25||3.96%||-2.63%||$165 850 909 431|
|3||USDT||Tether predictions||92.4%||1||$1.000199||0.01%||0.02%||$67 962 965 910|
|4||BNB||Binance Coin predictions||89.2%||16||$295.18||3.35%||4.10%||$47 622 811 891|
|5||USDC||USD Coin predictions||92.4%||1||$1.000129||0.02%||0.01%||$47 041 969 452|
|6||XRP||XRP predictions||61.2%||86||$0.479325||6.89%||0.21%||$23 918 656 745|
|7||BUSD||Binance USD predictions||94.8%||1||$1.000158||-0.04%||0.02%||$21 045 557 649|
|8||ADA||Cardano predictions||74.8%||46||$0.432877||2.56%||-5.26%||$14 827 377 490|
|9||SOL||Solana predictions||85.6%||22||$34.02||4.22%||-2.80%||$12 079 424 303|
|10||STETH||Lido stETH predictions||92.4%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|11||DOGE||Dogecoin predictions||90.4%||14||$0.060856||1.66%||-2.64%||$8 073 831 543|
|12||MATIC||Polygon predictions||69.6%||61||$0.835389||7.92%||6.54%||$7 296 551 325|
|13||DOT||Polkadot predictions||66.8%||67||$6.47||3.14%||-3.80%||$7 264 526 660|
|14||DAI||Dai predictions||91.6%||1||$0.999987||0.06%||0.03%||$6 786 797 042|
|15||WTRX||Wrapped TRON predictions||93.2%||5||$0.061484||0.80%||1.33%||$6 251 497 842|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2022 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.