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XLM/USD traded higher above $0.125

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Stellar price forecast shows that XLM is trying to cross above the upper boundary of the channel.

Star forecast statistics data:

  • Premium price now – $0.126
  • Premium Market Cap – $3.1 Million
  • Stellar rolling supply – 25.54 billion
  • Total stellar width – 50 billion
  • Stellar Coinmarketcap Rating – #25

XLM/USD Market

Main levels:

Resistance Levels: $0.140, $0.142, $0.144

Support Levels: $0.110, $0.108, $0.106

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XLM/USD peaked at $0.127 today, after which the currency begins to consolidate inside the channel. However, the excellent We will have to stay above the 9-day and 21-day moving averages to guide against downward pressure while the nearest support is expected at $0.120, which could be a daily low.

Premium Price Prediction: Star likely to reach $0.130

At the time of writing, it was Excellent price It is likely to go upward. However, a move above the upper boundary of the channel could push the coin towards the resistance levels at $0.140, $0.142 and $0.144. On the downside, the downside move below the 9-day and 21-day moving averages could halt the initial upward move and create downside momentum with an eye to moving the market to the next support levels at $0.110, $0.108 and $0.106, respectively.

At the moment, the RSI (14) and the technical indicator are crossing above the 60 level, which indicates that the market may continue to the upside. Looking at the daily chart, the 9-day moving average remains above the 21-day moving average which could allow buyers to focus on moving the move north.

Compared to Bitcoin, Stellar is hovering above the 9-day and 21-day moving averages. At the same time, after the last positive sign, the price of XLM may drop slightly if sellers return to the market again.

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XLMBTC – Daily Chart

Therefore, if the bears succeed in breaking through the moving averages, the market price may reach the support level at 580 SAT and below. However, any further upward movement may allow the currency to move above the upper boundary of the channel to reach the 700 SAT resistance level and above as the RSI (14) crosses above the 60 level to consolidate the upward movement.

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Blockchain

Binance US cancels trading fees on Ethereum

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Binance US announced that it has extended its “no-fee pricing model” to Ether (ETH) is effective immediately.

According to the announcement, users can now freely trade Four Ether spot market pairs: ETH/USD, ETH/USDT, ETH/USDC and ETH/BUSD.

Effective immediately, the American exchange has also eliminated gas fees on all Ethereum transactions made through the “buy and sell” feature on their website.

in June, Binance US followed suit Robinhood, which pioneered commission-free cryptocurrency trading in 2018, is powered by remove all bitcoin (BTC) Spot market trading fees for BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD.

Binance US operates as an independent entity in the United States but still bears the same name and logo as global cryptocurrency exchange Binance. As the name suggests, the US-based Binance exchange primarily caters to US cryptocurrency traders.

According to Binance US President and CEO Brian Schroder, the removal of fees on both BTC and ETH cements the company’s position as “the low-fee leader in crypto.” He added that “now, more than ever, it is critical that platforms work with users’ interests first”.

Related: Why the fight for low or no transaction fees is really important

Exchanges play an important role in cryptocurrency adoption. Facilitating fee-free transfers encourages users to engage more with digital assets. If it were costly to send money from one point to another, millions of potential users would avoid or limit their use of the technology.

Exchanges that avoid charging fees can still earn from fee-free transactions through spreads. In trading, spread is known as the difference between the bid (sell) price and the ask (buy) price of a trading pair.