Stellar Price Analysis 14 May 2019: Uncertain future

Banks are one of the few people who are enjoying Stellar to its fullest and utilizing the coin to its full potential. The benefit that these institutions find in the coin’s cross border transaction options cannot be ignored. Due to it being so popular with arguably the biggest financial institutions in the world it is quite hard to say that there is no certainty around Stellar. It all depends on its performance during the very early hours of the 15th of May.

May 14th has been probably one of the best days the coin has seen in quite a long time for the past couple of months. It started out at $0.099 at midnight May 13th and rose to great heights within just a couple of overs over the course of the 14th. It is currently sitting at $0.114.

XLM chart

XLM chart by TradeView

Due to the massive growth of the coin, it is expected that a correction will happen within a couple of hours, or it may have already begun. The resistance level for the bear is currently $0.099 once again. Should the coin shed all of its gains for today, it will be very hard to retain it from falling any further. However, due to Bitcoin reaching massive heights, there is bound to be an influx of “cheap coin seeking” investors on the market, ultimately buying their way through the bull rush.

Overall, there are 2 scenarios to be considered, but none of them are certain enough to bet on. If XLM breaks the $0.099 resistance level, it will most likely fall into a limbo of the bear market, while if it is able to cling to the bitcoin bull, it has the potential of reaching $0.15 USD by the end of tomorrow.