- Stellar has recently recovered the sixth position before Litecoin in the market capitalization classifications.
- The founder of Stellar and the founder of Tron engaged in a war of words as they both took on others' projects.
- Forward support: $ 0.1239, $ 0.1180, $ 0.1121, $ 0.10, $ 0.09866, $ 0.09329.
- Forward Resistance: $ 0.13, $ 0.1398, $ 0.1465, $ 0.15, $ 0.1568, $ 0.1639, $ 0.1682, $ 0.1741.
One more week, another lament!
Not too long ago we have reported it litecoin he had passed Stellar in the market capitalization value and consequently claimed the sixth position from Stellar. However, Stellar obtained a rebellion after overcoming Litecoin's market capitalization to recover sixth position.
Stellar's founder, Jed McCaleb, and TRON's founder, Justin Sun, were recently involved in a war of words because both founders took over the project of the other.
In a recent interview with Yahoo Finance, McCaleb had some interesting words to say about the banks in the sector and the marketing of Stellar. He made strong observations against most of the cryptocurrency projects and identified the TRON project.
McCaleb stated that "90% of cryptocurrency projects are & # 39; B.S & # 39;" and that "he did not see the time to change it". He identified TRON, stating that projects such as TRON are "garbage" complete and not "technically" work. "
In the interview, he also stated that the cryptocurrency market is not collapsing and described it as "still uphill". He continued to argue that markets are falling compared to the peaks but are still higher than the highs of recent years as interest in the industry continues to grow.
After the interview, Tron's rockstar founder Justin Sun took on Twitter to refute the statement made about his project.
He said he did not see Stellar as a competitor of TRON as it has a low volume of transactions and is centralized and undemocratic. He also included the fact that Stellar does not host any bits on their network and is sure that TRON will take its position in 2019.
We do not think @StellarLumens it is our competitor since they have an extremely low transaction volume, a centralized and undemocratic system and 0 Dapp. #TRON will take their place by 2019 anyway. #TRX $ TRX #XLM https://t.co/kPuTIwiI0r
– Justin Sun (@justinsuntron) January 1, 2019
We continue to take a look at the XLM / USD market and highlight any potential support and resistance areas in the future.
Price analysis XLM
Stellar is currently trading hands at a price around $ 0.1239 at the time of writing, after seeing a small price increase of 0.37% in the last 24 hours of trading. The cryptocurrency has now recorded a price increase of 7.17% over the last 7 trading days, bringing the price increase to 30 days up to 2.48%.
Stellar, now again in sixth place, currently holds a market value of $ 2.34 billion.
However, the market has seen a precipitous loss of over 48% over the last 90 trading days as the 53-month cryptocurrency is now trading at a value of 85% lower than the all-time high price.
Analyzing the price action from the chart to 4 hours above, we can see that since then our previous XLM / USD analysis, the market had continued to expand to reach resistance resistance in the $ 0.1465 resistance area provided by the Fibonacci extension level at 1.618 in the short term (blue track).
After reaching this resistance area, the XLM / USD market began to decline and continued to decline until short-term support was found. 618 Fibonacci Retracement level (drawn in green) priced at $ 0.1121 .
The market was then rebounded from this support area, but failed to break above the $ 0.13 handle to keep going up.
The market is currently being negotiated over a period of consolidation while the XLM / USD continues to trade sideways. In order for this market to be considered bullish, we should see XLM / USD exceed the previous handicap resistance $ 0.1465.
If XLM / USD breaks below the support at $ 0.1121, we can consider the short-term trend to go down again.
Where is the resistance for XLM above the $ 0.13 handle?
If buyers can start pushing price action higher and overcome resistance to $ 0.13, we can expect the higher resistance to be at the downward Fibonacci retracement level .236 (drawn in orange) at the price of $ 0.1398. This is closely followed by the short-term Fibonacci 1.618 extension level (drawn in blue) priced at $ 0.1465.
If the bulls can continue to rise above the psychological resistance around the handle by $ 0.15, a further higher resistance may be localized in the medium term to 1,227 and 1,414 Fibonacci levels (drawn in purple), at the price respectively of $ 0.1568 and $ 0.1639.
An additional resistance above this level can then be located at the Fibonacci retracement level .382 (drawn in orange) for $ 0.1682. This is followed by the medium-term FIartacci 1.618 extension level (drawn in purple) for $ 0.1741.
Where is the support down?
If sellers push price action below the current appeal support of $ 0.1239, we can expect further support for the downside to be located in the short term .5 and .618 Fibonacci retracement levels (traced in green), priced at $ 0.1180 and $ 0.1121 respectively.
Additional support below the $ 0.10 handle can then be expected in the short term .886 Fibonacci retracement level (green extract) priced at $ 0.098. This is followed by the previous long-term precedent 1.618 Fibonacci Extension level (drawn in dark blue) priced at $ 0.09329.
The market capitalizations of Stellar, Litecoin and EOS are very close to each other, so we can expect that there will be more flippenings among them all in the near future.
Further adding the flippening count, TRON recently passed Bitcoin SV for the ninth position and is now also approaching the three cryptocurrencies mentioned above, as the first class cryptocurrencies present marginal differences in the market capitalization value.