Price Analysis

Bears Attack Stellar (XLM); Price Slips to $0.062

  • Stellar price slips towards the immediate support level
  • The intraday price movement seems to fetch loss

Stellar price takes a steep downward walk with its intraday movement. The crypto market was seen fluctuating from the beginning of the month with moderate volatility. However, presently the momentum was seen improving gradually, and steady growth was anticipated to speed up, but the sudden fall has delayed the same.

XLM to USD Price Analysis:

Stellar price
XLM Chart By TradingView

Stellar price started trading in August with a heavy fall. The price first fell from $0.0837 to $0.0737 by 11.25%. There was a slight improvement that took it to trade around $0.0802 by 8.52%. Later, unable to hold, the price fell tremendously to $0.068 by 14.69%. The monthly movement in price brought a loss of 25.20%.

In September, the price was initially seen slipping. However, there was an escalation that took it to $0.090 but soon dropped to $0.052 by 42.90%. The month closed with a recovery of 17.60% as the coin closed the month trading at $0.062. The ongoing month has recorded a moderate hike of 7.66% until now, as the trading price counters have changed from $0.062 to $0.066.

Stellar price is expected to improve soon as the coin marked a slight uptrend amidst the fluctuating market. The last few days were slightly disturbing. If we look at the resistance and support levels with respect to the current trading price, the immediate support level is $0.0631, which seems to be achievable. The other calculated support and resistance levels are as follows:

Resistance Level Price Support Level Price
R1$0.065476S1$0.063103
R2$0.066688S2$0.061942
R3$0.067849S3$0.06073

There is a strong possibility that the improvement in the price would bring the momentum back in the coin. Thus, we would suggest interested traders to go for short-term investment with Stellar Lumens, which will help them draw huge dividends.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.
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