Tanya Abrosimova
Independent Analyst
- The Stellar Development Foundation (SDF) announced the charitable initiative to help to fight COVID-19.
- XLM/USD aims at $0.0550 as the technical picture has improved.
Stellar, now the 13th largest digital asset with the current market value of $826 million, has gained over 1% in the recent 24 hours to trade at $0.0407 by press time. The coin has registered an average daily trading volume of $343 million, which is in line with the recent figures.
Stellar joins charitable move to fight COVID-19
The Stellar Development Foundation (SDF) has launched a donation-matching powered by Stellar-based Lumenthropy.
XLM tokens are accepted as a donation by several charitable organizations, including UNICEF, The Tor Project, Freedom of the Press.
According to Denelle Dixon, the CEO of the SDF, the foundation stayed unaffected by the turmoil caused by COVID-19 crisis. Thus, the Foundation decided to donate 2.5 mln XLM to help the community. The first tranche of 100,000 XLM will be distributed among six eligible charities supported by Lumenthropy. The Foundation encourages the community to join the initiative and send their coins, which will be matched by SDF.
We hope those of you who can and are looking for ways to support the global community will join us," Dixon commented.
XLM/USD: Technical picture
XLM/USD has been moving in sync with the market. The coin reached the bottom at $0.0260 on March 13 and has been gaining ground slowly ever since. The initial resistance is created by the upper line of the daily Bollinger Band at $0.0430. If the coin manages to clear this local barrier the recovery may be extended towards psychological $0.0500, followed by a $0.0530-$0.0550 resistance area reinforced by SMA50 and SMA100 daily.
On the downside, a sustainable move below $0.0400 will attract new speculative sellers to the market. As a result, the price may decrease towards $0.0350 ( the lower line of the daily Bollinger Band)/ Once it is out of the way, psychological $0.0300 will come into focus followed by the recent low of $0.0260.
XLM/USD daily chart
-637214128591661045.png)
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Axiom’s volume surpasses $100M as meme trading platform war escalates on Solana
Axiom meme coin trading volume hit $101 million for the first time, surpassing other platforms on Solana. Axiom accounts for 30% of the ecosystem’s trading users, followed by Photon and Bullx at 24% each.
Bitcoin aiming for $95,000 as Global M2 money supply surges
Bitcoin (BTC) price edges higher and trades slightly above $85,500 at the time of writing on Tuesday after recovering nearly 7% the previous week. The rising Global M2 money supply could be a favorable signal for both Gold and Bitcoin.
Top 3 gainers Brett, Story and Virtuals Protocol sparkle as Bitcoin eyes $90,000
Cryptocurrencies have sustained a buoyant outlook since last week as US President Donald Trump’s tariff war was paused for 90 days, except for China, propping global markets for lifeline relief rallies.
Three altcoins to watch this week: ALGO, MANA and JASMY show bullish signs
Algorand, Decentraland and JasmyCoin hovers around $0.19, $0.27, and $0.015 on Tuesday after a double-digit recovery last week. ALGO, MANA and JASMY approach their key resistance levels; breakout suggests a rally ahead.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.