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Price Analysis

XLM Price Analysis: Stellar – A Promising Currency Holding Onto Commitments!

Stellar Lumens seems to continue to be one of the promising coins in Cryptocurrency. At least that’s what Exchange Kaiserex thinks! They recently announced 34 trading pairs with Stellar on their platform.

Stellar considers the same as a blessing as switching between XLM and XRP (for instance) will not require the mandate need of passing through Ethereum or Bitcoin, for that matter. This is surely considerable news for the traders who like to balance their portfolios and investment by switching among the currencies now and then.

XLM Price Analysis on 6th June 2019:

XLM/USD YTD Price Chart

XLM/USD YTD Price Chart - 6 June

Considering the data today, the value of Stellar is trading at $0.1226 at 8:23 UTC time, 6th June 2019. The ranking of the coin is positioned at 10. The Market Cap value is $2,364,749,638 followed with 24-hour volume at $372,410,972. The Return on Investment is surely switching the user’s attention to Stellar, calculated at 4010%.

XLM/USD 5 Day Price Chart

XLM/USD 5 Day Price Chart - 6 June

Stellar for Short Term Investment

5 days data reflects that 3rd June was the highest of the value at $0.1399. The value is dropped by 12%. The lowest was realized on 4th June when the value was trading at $0.1174. The value has increased by 4%. However, the fluctuations are quite favoring the short term investment. Traders must keep themselves updated on every second as to which moment to buy or sell!

Stellar Price Chart - 6 June

Stellar for Long Term Investment

Same time last year, the value was trading at $0.2938. Comparing the same the market has definitely dropped to -58%. So it might not be really a good option for long term investment unless Stellar announces big fat partnership soon.

XLM Price Prediction and Conclusion:

However, the long term investment might be a real concern for many traders, but the Stellar is definitely improving on its pace. Stellar is running into Bullish market where traders must keep a check on the resistance support.

Traders to note that trading under resistance support between $0.127 and $0.118 will be a safer play for them. However, Stellar is hoped to rise up by the end of the year trading may be at $0.5. Till then, bid safe for better fruits.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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