Stellar (XLM) price is down more than 20% since the beginning of December. Should I invest?

All major cryptocurrencies are losing their value this trading week, and the price of Stellar (XLM) is also under pressure. Bitcoin is trading again below the $18000 level, indicating that the price could weaken even more.

Stellar price is down more than 20% since the beginning of December, and the current price stands around $0.156. Bitcoin’s price is trading again below the $18000 level, and some analysts say that the cryptocurrency market is not even close to a bottom.

According to the latest news, one of Germany’s oldest banks announced that it would launch the EURB stablecoin on the Stellar network. The EURB stablecoin is the first stablecoin issued directly by a banking institution on Stellar, and this is undoubtedly positive news for this network.

“We’re thrilled to announce that Bitbond and Bankhaus von der Heydt are now issuing Euro Stablecoin (EURB), the first stablecoin issued directly by a banking institution on Stellar. A high-quality, bank-issued euro asset to Stellar is meaningful for our users and builders on our network, powering a new wave of financial innovation, leveraged immediately by Stellar-based apps,” said Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation.

Stellar has its own cryptocurrency known as Lumens ($XLM) and operates as a non-profit entity. For this reason, institutions and individuals are not charged for conducting transactions on the network.

The stellar platform can be the future of banking, and it is also important to say that Stellar has lots of advantages over Bitcoin. Bitcoin transaction confirmations may take many minutes with high transaction costs, while Stellar transactions are confirmed within seconds at very low costs.

Stellar avoids the costly mining process using the efficient Stellar Consensus Protocol and, therefore no incentives to slow the network down to raise fees and other conflicts of interest. Despite this, there is still a level of uncertainty surrounding this project and there are obvious risks when it comes to buying Stellar (XLM) this December.

Stellar price has weakened from $0.20 below $0.14 in less than two weeks, and the current price stands around $0.156.

The current resistance levels are $0.170, $0.175, and $0.180; $0.150 and $0.140 represent the current support levels. If the price jumps above $0.170, it would be a signal to buy Stellar (XLM), and we have the open way to $0.180.

On the other side, if the price falls below $0.150, it would be a firm “sell” signal, and we have the open way to $0.140.

All major cryptocurrencies are losing their value this trading week, and the price of Stellar (XLM) is also under pressure. According to the latest news, one of Germany’s oldest banks announced that it will launch the EURB stablecoin on the Stellar network. If the price falls below $0.150, it would be a firm “sell” signal, and we have the open way to $0.140.

The post Stellar (XLM) price is down more than 20% since the beginning of December. Should I invest? appeared first on Invezz.