Stellar Lumens, in partnership with IBM, successfully launched World Wire which will be a direct competition to Ripple’s solutions for cross-border payments. Stellar Lumens saw a spike after this announcement and has since subdued.
The price of XLM at press time was $0.02303, while the market cap was $2.2 billion.
The one-hour chart of Tron showed a downtrend that extended from $0.0277 to $0.0236, while the uptrend extended from $0.0220 to $0.0229. The price found support at $0.0221 and bounced in an upward direction. The price even struck the immediate resistance at $0.0242 on March 16, 2019.
The Parabolic SAR markers developed above the price candles, which indicated that the short uptrend rally had stopped and was reversing.
The MACD indicator showed a recovering uptrend for the signal and the MACD lines after a bullish crossover.
The Relative Strength Index showed that the RSI topped at 55 and was reversing as well. The momentum of the sellers ran out as the RSI collapsed.
The longer time frame showed an uptrend that extended from $0.0129 to $0.02245, while the downtrend ranged from $0.04982 to $0.02593. The prices tried to cross the resistance at $0.0267, not once, but twice. Eventually, the prices failed to breach the resistance and headed downwards.
The Bollinger Band showed a squeeze, indicating the reduction of volatility for XLM in the longer time frame. The prices were above the SMA, which indicated a bullish presence for XLM.
The Chaikin Money Flow showed the CMF line above the zero-line, which indicated that money was flowing into the market. The sellers were dominated by the buyers.
The Stochastic RSI showed the topping of XLM markets as it was in the oversold zone. The Stochastic RSI also showed a bearish crossover that had begun.
The one-hour chart showed a bearish cycle in progress as indicated by the Parabolic SAR, MACD, and the Relative Strength Index. The one-day chart indicated a bullish view for Stellar Lumens as confirmed by Bollinger Bands, CMF, and Stochastic RSI.
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