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Price Analysis

Stellar Price Recovery Stalls; XLM Hovers Around $0.058

Stellar (XLM) is seen hovering around $0.058 since the beginning of the day. The movement in Stellar is usually spotted with a high volume. However, today, the escalation is moderate and reflecting stability since the opening hour until the time of writing. We are anticipating a bearish trend in the upcoming days as observed from the market. However, the future holds high possibility of an upsurge.

Yesterday, Stellar was seen touching a high at $0.059800 and a low at $0.058106 with a volume of $143,895,582. To understand today’s price movement of Stellar more precisely; let’s have a look at the price chart.

XLM/USD Price Analysis:

Stellar Price Chart
Stellar Chart By TradingView

The data feed is taken from Bitfinex as on October 03, 2019 at 12:01:29 UTC. The day started with a downtrend yesterday as the price counters changed from $0.0586 to $0.0577 by 1.43%. The improvement in the price took place immediately and it jumped to $0.0587 by 1.64%. The escalation lingered and pushed XLM to $0.0598 by 1.94%. The final jump took it to $0.060 by 0.43%. Today, Stellar booked a fall when the price slipped from $0.060 to $0.0589 by 1.94%.

XLM has shown a commendable movement in the first two quarters which resulted into great volumes traded. Due to the same, XLM was seen holding up till mid of third quarter. However, the market pressure increased and XLM resulted into a drop. Therefore, we would suggest the traders for choosing the short-term investment as the long-term might turn out to be risky.

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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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