Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Stellar Lumens (XLM) Technical Analysis: Stellar Price Tracking in Bearish Descending Triangle

Published 06/05/2019, 06:40 AM
Updated 06/05/2019, 08:01 AM
 Stellar Lumens (XLM) Technical Analysis: Stellar Price Tracking in Bearish Descending Triangle

Stellar Lumens is desperately clinging on to its top 10 position in the crypto leaderboard this morning, while the market recoils from yet another steep correction. Today, we can see that the price action continues to track inside a descending triangle pattern which paints a very bearish picture going forward.

To make matters worse, Stellar’s main market cap competitor, Tron (TRX), has managed to bank an early lead ahead of other projects in the top 15, and is closing the gap for the number 10th spot with less than $80 Million to go.

In the news recently, Crypto.com has announced the listing of XLM on its feeless platform, which will allow customers holding a MCO Visa (NYSE:V) card to purchase goods with Stellar Lumens with over 40 million vend...

This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.