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Stellar Lumens (XLM) Made Another Run - Is it Any Different than September Though? by scaredycatguide

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· @scaredycatguide ·
$5.78
Stellar Lumens (XLM) Made Another Run - Is it Any Different than September Though?
In the past week XLM is one crypto that has seen a hefty push higher.   Here's the thing though, it pushed up and stalled out at the same highs made in September.

## We Price See Another Leg Higher?

![Capture.PNG](https://cdn.steemitimages.com/DQmZrLRUSHHsfGK2Mqj3dcxebAEWY8aAuW69w5tyQVfWpua/Capture.PNG)

Looking at the chart we see there were intraday spikes almost two the 90 cent level before seeing seller step in.  

In September the pump was short lived.  Right now we are waiting to see if this time will be different.

Ideally price consolidates this move some and lets the 10 day moving average catch up.  Based on past price action 75 cents looks like the level we want it to hold over the coming days at which point a move higher would be in the cards.

Who knows, maybe XLM will have some more good news come out.

In the end, price needs to close above 90 cents for it to get out of this range it has been in.
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vote details (169)
@bearbear613 ·
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@pennsif ·
What do you think will be the effect of the 50% XLM burn just announced...

* https://finance.yahoo.com/news/does-stellar-55bn-token-burn-110000660.html

I wonder what would happen to the price of STEEM if we did something of a similar scale...?
👍  
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@ddrfr33k ·
A reduction of supply chain couldn't hurt. @chiren and I have discussed this at length with regard to @vimm gems. Finding ways to remove some gems from the ecosystem will help keep the value up. Or, at least, that's the thought process. Whether or not it actually works is another story!

Posted using [Partiko Android](https://partiko.app/referral/ddrfr33k)
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@scaredycatguide ·
Yup, steem leo does a burn which I think has had a net positive effect.
👍  
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@scaredycatguide ·
Yes, the burn news is what caused the pop (atleast from my perspective) the question is will there be a residual effect.  Any time supply is reduced on something it should have a net positive effect.

Assuming there are buyers to push up the remaining coins.   It will be interesting to see how it plays out as the burn is digested.
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