On Wednesday, Coinbase Pro announced it was accepting deposits of Stellar, with trading support coming shortly thereafter.
The Stellar is the latest cryptocurrency to be listed on Coinbase’s pro. The other recent addition was Ripple several weeks ago.
The price of Stella has increased 30% in recent days with the Coinbase Pro’s announcement adding an additional pop in price.
Stellar was started by Ripple co-founder Jed McCaleb. Jed left Ripple holding 9 billion XRP, sold his holdings and donated some to charity. Prior to co-founding Stellar, Jeb is known for creating the bitcoin exchange Mt. Gox and the peer-to-peer eDonkey and Overnet networks.
NOTE: for these reasons, personally I like Stellar over Ripple.
So is there more room for Stellar to rise in the short term, lets go to the charts to find out.
In May of 2017 the $0.075 level served as resistance, but now in February of 2019, that same $0.075 is now serving as support.
The suggest to go long Stellar on a pull back to the daily demand at $0.08 with a target at the daily supply at $0.20.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.