Stellar Coin Stays Above $0.13. Is a Return to 2023 High Coming This Week?

Join Our Telegram channel to stay up to date on breaking news coverage

The Stellar Coin price is virtually unchanged in the last 24 hours as of 5:31 am EST, after increasing by almost 31% during the last 7 days.

XLM rose above the $0.13 price level but is now trading at $0.12776 as of 11am EST. Stellar has gained 63% over the past month.

XLM is Likely to Face Price Consolidation

According to the chart above, XLM’s market price is prone to an intermediate trend today. The asset trades above its 50-Day and 200-Day Simple Moving Average (SMA). This represents that the coin’s market trend is bullish.

XLM’s Moving Average Convergence Divergence (MACD) is above the signal line with a faded green bar on the histogram. This shows that the asset has been bullish, but the bulls’ momentum on the price is fading.

The red candlestick forming on the chart above indicates increased selling pressure. Additionally, XLM’s Relative Strength Index (RSI) is at 60.89, sitting in the neutral zone between oversold (below 30) and overbought (above 70). This supports the red candlestick and the faded green histogram bar as it points downward.

Stellar Coin’s Support and Resistance Levels

Considering the price movement of Stellar’s coin, the candlesticks pattern represents a stable market in an intermediate trend in the last 2 days.

The bears drive the market. However, if the bulls can strengthen their momentum before the end of today, XLM could break out of its $0.1272 resistance level in the coming days.

This might strengthen the current positive market sentiment, increasing XLM’s BUY trades and possibly driving the asset back to $0.13 and beyond.

Nevertheless, doubt and fear could enter the market if the bears’ pressure overcomes the bullish trends by the end of the day, and the asset might decline in value, approaching its $0.11 level.

If the bearing momentum lingers longer, the XLM’s market price could plunge further and reach the $0.0846 support.

Factors That Could Affect Stellar

Ripple’s victory in its lawsuit against the US Securities and Exchange Commission (SEC) has affected the growth of various cryptocurrencies.

However, the market still worries about what the SEC could do next.

While the outcome of the XRP ruling could create a precedent that reforms the regulatory framework for virtual assets in the US, Senator Lummis urges unambiguous and comprehensive crypto regulations, highlighting the importance of conserving the Howey test.

This may instill confidence in investors, both individual and institutional, as having precise crypto regulation provides a sense of stability and legal certainty, leading to increased investment in the crypto market and potentially driving growth, including for XLM.

But with the current price outlook of Stellar, those in search of alternatives with promising potential in the short term may consider DeeLance.

DeeLance Might Be Next Promising Asset

DeeLance project focuses on revolutionizing the freelancing and online recruitment industry by combining blockchain innovation and crypto utility to its ecosystem.

Using blockchain, DeeLance ensures transparency, efficiency, and security for connected freelancers and recruiters on the platform. Furthermore, it provides them with a wide variety of features, making it a unique platform compared to other freelancing sites.

Interestingly, the DeeLance ecosystem is powered by the project’s native utility token, $DLANCE, the primary currency for transactions and activities on the platform.

DeeLance Features

As a revolutionary project, DeeLance features an NFT Marketplace, Freelancing, Metaverse, and a Job Hiring Platform.

NFT Marketplace

DeeLance’s NFT marketplace is a cutting-edge platform enabling creators to mint, trade, and sell non-fungible tokens.

User-friendly features empower artists, musicians, and collectors to showcase and monetize their digital creations, fostering a vibrant community for NFT enthusiasts and investors.

DeeLance issues digital certificates to NFT owners as proof of ownership on the platform.

Metaverse

DeeLance’s Metaverse is a virtual, immersive universe where users can interact, socialize, and explore. Combining advanced VR technology, blockchain, and user-generated content, it offers limitless possibilities for business.

From virtual events to business collaborations, DeeLance’s Metaverse creates a dynamic and interconnected digital ecosystem for its users. What’s more! Users can purchase lands, properties, lease their offices, and even run billboard ads for business on the Metaverse.

Job Hiring Platform

DeeLance’s Job Hiring Platform is an innovative online marketplace connecting employers and freelancers across various industries.

Offering a user-friendly interface, it streamlines the hiring process by allowing businesses to post job listings and freelancers to showcase their skills and experience.

DeeLance ensures efficient and reliable talent matching with secure payment systems and reviews.

$DLANCE Presale

The presale fundraising campaign for DeeLance’s native token, $DLANCE has raised more than $1.5 million in funds so far.

$DLANCE presale is in the last stage, selling at $0.048, and in the next few days, it will hit several exchanges.

The benchmark for the fundraising campaign is $1.8 million, but considering the token’s fast-selling rate, the $DLANCE presale could hit this level earlier.

How to Buy

Connect your MetaMask or Trust Wallet to the presale widget
Make sure you have enough balance for the transactions
Enter the amount you wish to swap for $DLANCE and click “Convert.”
Follow the on-screen information to complete the transaction.
Return to the widget after the presale, reconnect your wallet, and select “Claim token”, and DeeLance will fund your wallet with the number of tokens you purchased.