finbold.com
Stellar (XLM) has benefitted in recent weeks from the announcement that the crypto exchange Coinbase had introduced support for USD Coin (USDC) on the Stellar network, providing near-instant and low-cost transactions in over 180 countries.
Given the uncertainty of the market, however, investors are increasingly turning to AI and non-traditional approaches to forecast cryptocurrency prices for the end of the year and beyond, given the numerous factors that can influence digital asset prices.
While ChatGPT refrains from providing a concrete XLM price prediction for the end of 2023, it recognizes the potential impact of transaction speed, low fees, financial institutions, strategic partnerships, diverse use cases, regulatory support, and technological advancements in boosting the price of Stellar.
AI XLM price predictions
Considering external sources, Google Bard has offered an average target price of $0.10 for Stellar by the end of the year, assuming a bullish market, though not as robust as in 2021. The forecast suggests an average low of $0.08 and an average high of around $0.12.
On the other hand, according to CoinCodex’s prediction, the value of Stellar is expected to drop by over 15% and reach $0.081.
On the short-term time frame, the crypto monitoring and prediction platform PricePrediction Stellar’s price is anticipated to stand at $0.1083 on July 31 based on several key technical indicators, including the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more.
Stellar price analysis
Currently, XLM is trading at $0.099163 with a $0.09223 support level and a $0.10801 resistance level.
From a technical analysis perspective, Stellar has been trading above the 200-day simple moving average, which could be seen as a positive sign. Additionally, it has had 15 positive trading days out of the last 30, accounting for 50% of the period.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.