Price Analysis

Stellar Drops Below $60 Due to Market Pressure

  • Stellar (XLM) price seems to be badly affected by the fall
  • XLM price breaks the freeze zone and drops to $59

Stellar started the month trading with high hopes accepting that the previous month wasn’t good for the traders as the price was drowning. Well, the market reflected volatility from the beginning that froze Stellar around $60 and $63. From the past few days, there has been heavy fluctuation noted in the market. Bitcoin is dealing at $7,400 with a 6% loss, Ethereum is at $161 with a 4.80% loss, and so is the story of almost all the coins.

Here is the intraday chart of XLM.

XLM to USD Price Analysis:

Yesterday, Stellar started trading at $0.0634, and within the first few hours, it marked a regression of 3.03%. Later, there was a little improvement in the trading price which took the coin back to $0.0628 by 2.13%. The coin couldn’t hold itself around $0.0628 and fell to $0.0580 by 7.64%. The price improved in the later hours and closed at $0.0598. The intraday movement in the price marked a regression of 5.71%. Today, the price began with a drop as the counters changed from $0.0598 to $0.0584 by 2.24%.

Stellar Price
XLM Chart By TradingView

Stellar reflects a heavy loss with its intraday price movement. The current trading price is around $0.059, which seems slightly inclined towards the immediate support level. The price movement of Stellar is changed. Hence, there are thin chances for the coin to fall below the immediate support level. Here is the chart of resistance and support level.

Resistance Level Price Support Level Price
R1$0.062815S1$0.057944
R2$0.065646S2$0.055904
R3$0.067686S3$0.053073

The traders who are interested in Stellar Lumens are recommended to stay put. The current market condition is not best suited for the traders. The investors should wait for the market to get stable for ensured profit outcomes in the future.

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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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