Price Analysis

Stellar Price Drops by 7% Over a Day; Awaits Recovery

  • Stellar (XLM) price movement hits a low.
  • The coin can break out from the downtrend if manages a recovery above $0.078

The crypto market has already been very fluctuating. However, there are some coins that are trying hard to cope up with the same, while others have fallen prey to the market pressure. With that, Stellar was seen maintaining a low pace for quite a long time.

A few days back, Stellar was seen touching an abrupt high at $0.088. The same was rumored to be a strategic act of the parent company. However, the strategy seems to backfire as the coin has been badly suffering since then. Here, take a look at the intraday chart for a better understanding.

XLM to USD Price Chart:

Stellar Price
XLM Chart By TradingView

The Stellar graph is reflecting a steep fall in the price. Yesterday, the coin started dealing at $0.082. It dropped till it touched a low at $0.080 by a decline of 2.77%. The price remained tight around the same level until it again fell to $0.077 by 4.50%. The coin closed at the same level by registering an intraday regression of 6.48%. Today, XLM opened with a fall of 4.10%. The counters switched from $0.077 to $0.073. Later, there was a slight recovery. The coin jumped to $0.075 by 2.95%. Recently, Stellar again slipped to $0.073 by 2.37%.

Stellar Price Prediction:

Stellar Lumens was anticipated to climb back, as soon as, the volatility recovers. The expectations are still high for the coin. The traders might get a good return in the future, but Stellar would have to improve at large. For intraday traders, there seems no good news as the coin has already dropped below the next support level. It is anticipated that the major support level would also breach in the coming hours.

Resistance LevelPrice
R1$ 0.081805
R2$ 0.085175
R3$ 0.08716
Support LevelPrice
S1$ 0.07645
S2$ 0.074465
S3$0.0710

The week-long price surge seems to be taking a pause currently. We would recommend the traders to hold their investment for a while to protect them from the risk.

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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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