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Price Analysis

Stellar (XLM) Price Analysis: XLM Is Lacking Sufficient Support Resistance To Spike Up Higher

The XLM charts show that its long-term trend is bearish, although intermediate bullish lines will be noticed. Frequent ups and downs now impact it due to the erratic and turbulent nature of BTC and the intense, volatile market. The moving averages of XLM are all ordered in a descending trajectory. As there is no strong support resistance to hold XLM firmly, it is dropping down at intervals. Although trading volume is appearing to be fine, XLM’s liquidity is massive, which is not a good indicator, so far persistence in bull trend is concerned. It also has weak buy support as of now.

Current status:

  • Current market price: USD 0.124511
  • Market cap: 2,400,020,972 USD
  • Market rank: 9
  • Circulating supply: 19,275,528,833 XLM

Price analysis and future price predictions:

Stellar Chart

The above chart ventilates that at present, XLM is getting traded at 0.124546 USD or 0.00001589 BTC (UTC time 05:19). Its current 24h volume is worth of 439,070,794 USD. The same chart also shows that approx. one month earlier, XLM had a trading value of 0.096644 USD with a market cap of 1,846,162,248 USD. So, within this one month, the value of XLM has increased by 28.87% with 0.123618 USD as a good support resistance level.

Based on its current conditions, we think that XLM can trade around $0.56 by the end of this year.

Conclusion:

XLM is currently fluctuating. Moreover, the conditions of the crypto market will not improve before the end of this year. So, long term investment in XLM may not be a good idea as of now.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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