Strong price gains for Stellar (XLM) and TenX (PAY). The price of Stellars Lumen rose by almost 70 per cent in one week. The PAY token from Julian Hosp’s TenX project even has a weekly gain of 90 per cent.
Stellar is currently doing its logo credit: the Stellar course has risen almost rocket-like over the last seven days. The course registers an increase of 67.24 per cent for the past week. For the past 24 hours, Lumen can show a plus of 9.26 percent. The Stellar price (XLM) is thus currently around 0.31 US dollars (0.27). The total market capitalisation is 5.7 billion US dollars (5 billion euros), while the 24-hour trading volume is around 270 million US dollars (232 million euros). The increase comes a week after Coinbase announced on Twitter that Stellars Lumen has prospects of listing on the crypto exchange. Furthermore, this week the news made the rounds that Stellar is the only crypto currency to have received the rating „halal“. The Shariyah Review Bureau in Saudi Arabia already issued a corresponding certificate at the beginning of June.
Has Stellar escaped the downward trend?
With the rally of the last few days, the Stellar price could rise above the exponential moving averages EMA50 and EMA100. The price is currently testing the downward trend it has followed since January. Should it overcome the downward trend, further targets of 0.33 US dollars (0.28 euros), 0.38 US dollars (0.33 euros) and 0.44 US dollars (0.38 euros) would be achievable. Even if a positive and rising MACD raises such hopes, the overbought RSI points more towards consolidation. In this the price can fall to the EMA50, which is currently at 0.24 US dollars (0.21 euros). If this support is breached and the EMA100 support currently at 0.22 US dollars (0.19 euros) cannot be maintained, the price fireworks will ultimately only burn straw and Stellar would have returned to the downward trend.
TenX: Weekly plus of 90 per cent
Stellar’s strong weekly balance is even exceeded by the TenX price: The project from Singapore can look back on the past seven days with a saturated plus of 90 percent. The price of the PAY token rose from USD 0.57 (EUR 0.49) to USD 1.07 (EUR 0.92) within a week. The bullish version of last week’s TenX price analysis has thus been confirmed for now. It has a total market capitalization of around 120 million US dollars (103 million euros) and a 24-hour trading volume of around 17 million US dollars (15.3 million euros).
After testing the downward trend that has existed since the end of January, the Kus fell back somewhat, but is currently able to hold above the exponential moving averages. From the perspective of the falling MACD, a consolidation to the exponential moving average EMA50 is possible. If the price rises above the resistance at 1.25 US dollars (1.08 euros), a second test of the downward trend would take place. If this is breached, the price targets of 1.67 US dollars (1.44 euros) and 2.04 US dollars (1.76 US dollars) that were announced last week can be targeted.