Stellar Lumens (XLM) Price Prediction and Analysis in August 2020

We will be looking at some of the market opinions and historical prices for Stellar Lumens in order to launch an XLM price prediction for this August.

Stellar Overview

XLM is the native crypto of the Stellar Lumens platform and is currently ranked 14th according to a market capitalization of $1,973,377,907, with $294,092,176 worth of XLM being traded in the past 24-hour period. There are 20,451,333,580 XLM coins in circulation out of a total supply of 50,001,803,802 XLM. The current price of Stellar is $0.096491, with a decrease of -3.65% in the last 24-hour period.

Stellar Lumens (XLM) Price Prediction: Analysis

Stellar began July at $0,067105 and remained at this level up until July 6^th, when XLM passed the $0.07 resistance level, reaching $0,071982.

The positive trend continued in full force, with Stellar reaching $0,073973 on July 7^th, $0,085003 on July 8^th, and $0,097164 on July 9^th.

On July 11^th, Stellar managed to reach an intra-day high of $0.1 but fell back to $0,094331 by closing hours. For the next 4 days, XLM traded between $0.090 and $0.097, but on July 15^th, Stellar once again shot up to $0,102505.

Source; Walletinvestor

The coin maintained itself above the $0.1 price level up until July 20^th, but then resumed trading below this level. From the next two days, Stellar traded between $0.094 and $0.097.

The calculated pivot, resistance, and support levels by WalletInvestor are:

• Resistance Level (R3): 0.1012
• Resistance Level (R2): 0.0993
• Resistance Level (R1): 0.0983
• Pivot Point: 0.0964
• Support Level (S1): 0.0953
• Support Level (S2): 0.0934
• Support Level (S3): 0.0923

Developments

The Stellar Development Foundation has revealed in a recent report that they are thinking of finding anchors that will be used on the Stellar Lumens network to create a new payment system. They aim to finish the project in 2025.

“To facilitate moving value from the traditional banking system into Stellar and vice-versa, the network relies on what we call anchors. Anchors play a fundamental role in creating a decentralized, interoperable global financial system,”- read the summary from their webinar.

The anchors will be regulated by authorized financial institutions, money service businesses, or fintech companies.

Anchors will issue fiat-backed stablecoins, maintaining the liquidity of the Stellar network, and the second role is to connect the network to the banking system of the country of operation.

“As the critical link between the Stellar network and the traditional banking system in their respective countries, anchors are positioned to leverage a variety of business models and monetization strategies, including deposit/withdraw fees, FX spread, seigniorage, and transaction fees.”

Companies that are aiming to become anchors must have a KYC process and bank connections, as well as a connection to the Stellar network.

Stellar Lumens Price Prediction: Market Opinion for August 2020

As a number of crypto sites have developed their own XLM price prediction for August 2020, we will be listing some of the most relevant ones so that you can have a broader idea of the market trends for Stellar.

Digitalcoinprice

Digitalcoinprice’s XLM price prediction for August sees the coin changing hands at $0.18354659, signifying an increase of 82.87%.

Previsionibitcoin

Previsionibitcoin predicted that Stellar will have a value of $0.223669 in the month of August.

Longforecast

Longforecast estimates XLM to hit $0.09 at the start of August. The maximum price was projected at $0.15, while the lowest value has been set at around $0.07. The month’s average price was forecasted at $0.1. The closing value for the coin was anticipated at around $0.08, marking a decrease for August of -11.1%.

Gov.capital

Gov.capital’s XLM price prediction for August 1st lists an average price of $0.0934, with a minimum possible price of $0.07939 and a maximum possible price of $ 0.10741. The site also made predictions for the rest of the days of August.

Coinpredictor

Coinpredictor’s XLM price prediction for August places the coin at $0.087468, with a change of +29.2%.

30rates

30rates made an XLM price prediction for each day of the month of August (without the weekends), with the average, minimum, and maximum values.

Bitverzo

Bitverzo forecasted that XLM will start August at a price of $0.011501, with a minimum value of $- 0.087966 and a maximum expected value of $0.120642. The site also listed predictions for the rest of the days of August.

Tradingbeasts

Tradingbeasts forecasted that XLM will reach $0.1162709 at the beginning of August 2020. The month’s highest anticipated price is $0.1441037, with the least anticipated price of $0.0979905. The Stellar closing price prediction for the end of the month is $0.1152830, with a change of 15.03%.

Stellar Lumens Price Prediction: Verdict

With this, we conclude our XLM price prediction for August 2020. From what information we have assembled, it appears that Stellar Lumens to continue its bullish trend in the month to come. We hope that the information we have features in this article will be of use to you in your future trading endeavors.

Featured image: personal-financial.com

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