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Price Analysis

Looks Like Stellar Price is All Set for a Short-Term Bear Run

  • Stellar price has been moving below the baseline with a flattish trend over the past one month due to the continual bear pressure; except the recent instance when it peaked at $0.085.

Stellar (XLM) had been performing with a stable and upward momentum till the bears became stronger in the crypto market. There onwards, the price of XLM found it hard to make a recovery as can be seen from the past one-month price chart where the price has mostly been moving in a flattish lower range of $0.06 with seldom upward price hiccups.

XLM to USD Price Analysis:

XLM price has been mostly below the baseline for the major extent in the past 30 days. The coin was trading at $0.06772 as on Aug 28. Then it fell further to $0.05862 on Sep 17, the fall being to the extent of 11.46%.

The price of stellar lumens got some respite from the bears when it started moving in the upward direction and touched $0.0850 on Sep 19, the upward swing being to the tune of 45.52%. This did not last long as the bears started putting further pressure on XLM and it went down to the extent of 20.71% on Sep 23 at $0.0674.

Today, the price of XLM has recovered BY 5.64% to $0.0636.

Stellar Price Chart
Stellar Chart by TradingView                                                                   

Stellar has had a stable run since the beginning of 2019 and its prices were moving in the upward direction till the bears set their foot into the crypto market. After this, the coin went through a pale time with the prices continually in the lower and a flattish range. Analysts feel the short-term volatility in the crypto market will pass and the coin will see better turn of event in its pricing by the year-end.

Long-term investors should hold on to their investments as the crypto market is still reeling under a lot of volatility. Short-term investors should wait till market shows some stability.

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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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