Price Analysis

Stellar Loses Track; Falls below $0.058 Overnight

  • Stellar deviates from its earlier trend and dips by 2.97% over the last 24 hours
  • No quick recovery seems possible now; the next support point awaits at $0.0574

Stellar seems to have put a brake on its gaining momentum. Over the last 24 hours, it has nosedived by 2.97% and fallen to $0.057987 and is not expected to experience any quick turnaround in the short-term.

Stellar Price Analysis

Stellar opened the day trading at $0.0597, and over the next 7 hours and 5 minutes, it faced the first regression of mere 1.86% that pulled the value down to $0.0586. It was followed by a 2.95% price recovery that added $0.0017 in the value and pushed it to the highest point of the day at $0.060384 by 12:15 UTC. However, XLM price couldn’t stand at that high for long and moved through a downward slope soon. The last variation took it to 0.057606 USD by 20:15 UTC.

Stellar’s market cap on 03rd February was 1.180 billion USD, and over the last day, it has been shrunk to 1.175 billion USD.

Stellar News
XLM/USD Chart By TradingView

XLM coin is currently trading at 0.057987 USD is lagging behind its 50 days MA (0.058199 USD) and 20 days MA (0.058047 USD). On the MACD scale, it appears bearish as the signal line crosses above the MACD of Stellar.

All these signs hint at not so good upcoming days. As per our prediction, Stellar may seek the support of $0.0574 in the following days. Investors may witness an unstable price movement in this period as well.

Stellar (XLM)Resistance and Support Levels
1st Resistance$0.0597
2nd Resistance$0.0610
3rd Resistance$0.0619
1st Support$0.0574
2nd Support$0.0565
3rd Support$0.0551
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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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