Stellar Price Projection: XLM's Path Forward Isn't Looking So Bright

Stellar Price Projection: XLM’s Path Forward Isn’t Looking So Bright

Updated: 04 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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

Stellar (XLM) price performance going forward isn’t looking so stellar with technical indicators suggesting falling momentum.

Meanwhile, the Stellar network is presenting a viable hub for other ecosystems, with Bitstamp integrating Circle’s USD Coin (USDC).

Excited to see @Bitstamp add support for @circle’s USDC on #Stellar, expanding access to near-instant and low-cost transactions! Users across Europe can now tap into the global ecosystem of apps and payment services powered by the Stellar blockchain’s network of on and… https://t.co/1ecXBmv73F

— Stellar (@StellarOrg) October 2, 2023

The integration will expand access to ultra-fast and affordable transactions, unique for users across Europe. This means widespread access to a global ecosystem of applications and payment services as supported by the Stellar blockchain’s network of on and off-ramps.

Stellar Price Outlook Amid Falling Momentum and Growing Overhead Pressure

At the time of writing, Stellar price is $0.1129 stuck within a tight range amid reducing volatility. The price action filled a triangle pattern, also owed to the dwindling volatility. Meanwhile, resistances due to the 50- and 100-day Exponential Moving Averages (EMA) continue to weigh heavy on Stellar price at $0.1151 and $0.1137 levels respectively. These headwinds could send XLM down.

Momentum indicators, the Relative Strength Index (RSI) and the Awesome Oscillator (AO) also point to a gloomy outlook. For starters, the RSI is not only below the 50 level, but also inclined south. This shows that even at its weak price strength, buying pressure is still dwindling.

The odds favour the downside as it stands, and Stellar price could break below the immediate support at $0.1126 before revisiting the $0.0879 range low.

Converse case

On the other hand, the impending slump could turn out to be a quick liquidity grab. This could fill the orders of shorts that have their eyes peeled on the August 17 candlestick wick that represents uncollected liquidity at around $0.1063.

The liquidity sweep could stabilize the XLM market. Sidelined buyers are likely to get in at this level, with the ensuing buying pressure sending XLM north. While a break above the 50- and 100-day hurdles would be ideal, Stellar price would only be out of the woods after breaking and closing above the 200-day EMA at $0.1326. Such a move would constitute a 17% climb above current levels. The 200-day EMA is the choice invalidation point considering it marks the last higher high before the load-shedding exercise began.

In a highly bullish case, the recovery rally could send stellar price above the $0.1439 range high, levels last seen on August 8.

With the bullish case being a bit of a stretch, it may be better to consider Meme Kombat, the new meme coin sensation in the crypto playing field that’s out to revolutionize passive income earning with its staking function.

Stellar (XLM) Alternative

Meme Kombat (MK) is a GameFi/GambleFi project contending against the likes of Dogecoin (DOGE) and Shiba Inu (SHIB) in the meme coin space. Nevertheless, it stands out from these competitors owing to its redeeming utility features, gaming!

The confidence… The swagger… The @pepecoineth #MemeKombat pic.twitter.com/LdT7bLHp5R

— Meme Kombat (@Meme_Kombat) October 1, 2023

It stands among the most promising presale projects so far, targeting gaming, meme coins, and gambling, which are known to be highly lucrative sectors in the crypto realm.

Since the presale began, the project has upheld its commitment to developing a gaming ecosystem where popular meme icons battle. Investors bet on the outcomes based on their individual preferences or the odds of respective matches.

The battles will rage on for @pepecoineth but today belongs to @miladymaker, so enjoy 😈#memekombat pic.twitter.com/mWNw2POOsI

— Meme Kombat (@Meme_Kombat) September 30, 2023

With meme characters battling on the platform, the project appeals to gaming enthusiasts just as much as it does to investors looking to grow their income. The fact that it is set atop a fully decentralized Web3 architecture only adds to the benefits, all the while upholding trust and transparency.

We didn't choose this life, it chose us! #Memekombat pic.twitter.com/BnlwEIxpAF

— Meme Kombat (@Meme_Kombat) September 29, 2023

The project is underway with the presale, steadily sprinting to the $300,000 mark. Its popularity is growing fast, evidenced by the growing number of followers on social media platform X, now nearing the 6K mark. The speed at which the presale tokens are selling out also bolsters this stance.

$MK presale is still live, don' t fade on @Meme_Kombat

They have now raised 235K. The presale is on their website with a cool branding. You can already earn APY by buying the presale. Team is doxxed.

Presale: https://t.co/WaKrFTgVyj

TG: https://t.co/x4lJEuasKy #DYOR pic.twitter.com/JW0ax0BmNQ

— Crypto Gems (@DaCryptoGems) October 3, 2023

Now is your chance to get in early on the project before it goes live on exchanges and the prices go high. Moreover, you can stake your tokens for passive income, with Annual Percentage Yields reaching as high as 112%. Do not miss out for any reason.

Visit Meme Kombat here