- StellarX is developed using Stellar (XLM) blockchain.
- Stellar price trend is bearish with technical indicators like the Stochastic heading south.
The era for decentralized exchanges is finally here. Interstellar has finally released its decentralized exchange platform, StellarX just weeks after Ethfinex DEX was launched. StellarX is developed using Stellar (XLM) blockchain. The platform has been received incredibly well for its ability to allow customers to load fiat currencies right into its local wallet.
In addition to that, users have an array of digital tokens to buy using traditional currencies like the euro, Philippine pesos, and the Nigerian naira. The exchange is expected to become a host to a number of stable coins in the near future. The exchange hopes to transcend the borders of those countries that do have the services of other cryptocurrency exchanges.
The amazing features of StellarX do will not end here as Interstellar plans to incorporate other assets such as bonds and real estate. Both of these services are in the development stage and plans to digitize them are underway.
Stellar price technical picture
Stellar is trading within a contracting triangle. Besides, it is range-bound below the immediate upper hurdle at $0.27. The price corrected higher last week, which saw XLM/USD come close to $0.30. However, the trend slowed down short of this key level resulting in declines that have since been supported at $0.23. A breakout from the triangle is expected soon; it will trigger retracement past the short-term resistance at $0.26, attack $0.27 and head to $0.30 (upper supply zone). The trend at press time is bearish with technical indicators like the Stochastic heading south. If buyers allow a break from the triangle support, XLM/USD is likely to test the support at $0.23 and further down at $0.20.
XLM/USD 1-hour chart