Price Analysis

Stellar (XLM) Marks Moderate Upsurge of 2% Despite the Volatility

Stellar price demonstrates uptrend in the last seven days. During the same period, the market trend has been quite volatile, and big forces like Bitcoin, Ethereum, etc were seen crashing. However, XLM coin maintained its momentum and escalated considerably.

If we take a deeper look at the price movement of Stellar Lumens, it has been trading in the range of $0.060 and $0.065 since the beginning of the month. The coin is reflecting a remarkable hold in its price despite a heavy change in its momentum.

Stellar Price Analysis

XLM coin has started the week at $0.0613. The price was seen at $0.06142 during the closing. Next day, Stellar jumped to $0.06184 by a 7.74% hike. On the next day, the price slipped to $0.06395 by 3.38% drop. On October 16, the fall kept intact and took the price to $0.0615 by 3.37%. On October 17, the price improved and touched $0.06485 by 4.95%. Then, the price again fell and touched $0.06300 by 2.88%. Yesterday, the XLM price slipped to $0.062 by 1.32% drop. Today, the price of Stellar was seen fluctuating and currently, it is trading at $0.06257.

Stellar
Stellar Price Chart by TradingView

As per the current trend, it seems that the XLM coin may escalate above its next resistance $0.063. Conversely, due to volatility, Stellar may find next support around $0.062. There is a strong possibility for the coin to violate the next support level.

Resistance Level Price
R1$0.06365
R2                                             $0.064211
R3$0.064604
Support Level Price
S1$0.62696
S2$0.062303
S3$0.061742

Stellar was seen marking a distinctive walk since the beginning of the year. When the entire market is fluctuating, it is seen trading moderately. The future of the XLM coin seems great. We would recommend the short-term traders to go for Stellar to gain considerable profits.

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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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