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Price Analysis

Stellar Bring the Bears Back; Got Mauled by 2.67%

  • Stellar loses 2.67% to touch 0.061 USD
  • It may seek the support at 0.060 USD if it continues to plunge.

Stellar (XLM) has witnessed a 2.67% fall in the last one day and the value against USD has now gone as low as 0.061 USD. The three price shifts have given the price trend a range between 0.063 USD and 0.061 USD.

Stellar Price Analysis:

Stellar‘s first variation started at 00:02 UTC and by 13:32 UTC, it was down to 0.061107 USD after a 3.58% reduction in the value. It was followed by a hike of 2.28% over the next 8 hours and 50 minutes that added 0.001391 USD and pushed it to 0.062498 USD. From there XLM showed signs of weaknesses and by a 2.13% freefall, it was pushed to 0.061163 USD.

In the last seven days, the XLM price has been exhibiting an intent to recover. Starting from 0.058 USD, it achieved 0.063 USD in these 7 days. Looking at the price trend, it can be expected to retain its growth pattern for the coming days.

XLM Price Chart
XLM Chart By TradingView

Stellar’s decent performance of the last week has put its 20-day average above its 50-day average. The current price trend of XLM to USD has been trailing behind both the calculated averages. The next few days for XLM may get a lot of roadblocks and it may have to seek the support of 0.0604 USD.

Resistance and Support Levels-

R1- $0.0630, R2- $0.0641, R3- $ 0.0649

S1- $0.0611, S2- $0.0604, S3- $0.0593

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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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