At last, there is some movement in XLM. This time around, we will find one of the initial corporate tokens on issue. IBM, in an announcement, revealed that they are going to partner with Veridium Labs in a bid to create Credit Tokens. Veridium Labs is a carbon rating firm. Carbon rating is the permitted sum of carbon an enterprise or a nation is allowed to emit each year. The credit tokens will be launched via Stellar’s Blockchain. It will be aimed toward helping in reducing pollution and conserving the Indonesian rainforest.
Yes, this endeavor is just a novel idea that if done well may help make the world a better place and further ensure Stellar Lumens are in demand. This is good news for the digital currency, but there isn’t much to worry about when it comes to changes in prices. Regarding XLM, sellers are in charge of the market and volumes are only within average. Before anything comes to fruition, it will be wise to wait for a retest of 0.30 USD and observe prices before making a move in the market. If there is a boost good, your buy triggers should be 0.40 USD. Otherwise, a break below 0.30 USD with extra-ordinary volumes could see sellers pushing Stellar Lumens near 0.20 USD which is the ultimate target.
Stellar took a shift down the 20-day EMA because higher levels lacked buyers. Prices are currently back on the 50-day SMA support. If this level should break, the neck area of the head and shoulder pattern will be the final support. A bearish trend will complete a breakdown and close below the neckline. Pattern targets of such breaks will be lower at 0.2 USD.
If the Stellar/USD pair holds the 50-day SMA support, a range bound move will ensue. Any shift above the overhead resistance at 0.47766719 USD will be bullish because it invalidates the bearish pattern. Hence you can find buying opportunities above the 0.373 USD levels.