Stellar Lumens’ Partnerships Could Reportedly Boost XLM Price To $0.5
Stellar is the number nine coin on CoinMarketCap, and this year, the crypto managed to perform great.
The digital asset maintained its position as the center of attention in the crypto space and its reportedly preparing to welcome more institutional investors.
XLM to reach $0.5 by the end of 2019
Smartereum notes that considering Stellar’s recent partnerships, the price of XLM should start to mirror these and hit new highs.
The online publication writes that XLM could reach $0.5.
They also write that the recent price surge of the coin could have been triggered by meaningful partnerships and positive publicity as well.
Latest Stellar partnerships
The Stellar foundation’s goal is to make XLM a legal tender in the banking sector. XLM is transacted via a secure platform and users can manage transactions without the hassle of any additional fees.
Recently, the Stellar foundation teamed up with IBM and Deloitte. Wirex, a renowned payment service also listed XLM as a new payment option.
More than that, another important partnership is the one with Pioneer a company from Israel.
The goal of this latest partnership is to allow XLM to be an incentive for users who are taking part in contests provided by Pioneer.
Price prediction for 2019
Smartereum writes that XLM has the potential of hitting $0.5 this year.
They write that “For the short-term outlook, in the event that the market is forced below the 200-day EMA as well as beneath the lesser boundary of this range at the $0.12 position, we can see support areas at $0.1174 and $0.1146.”
The same online publication notes that if the bulls “maintain the support position near the 200-day EMA and force the price of Stellar Lumens over $0.145, the resistance level will shift the $0.155 level.”
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.