Price Analysis

Stellar (XLM) Indicates Moderate Recovery After Yesterday’s Massive Drop

Currently, Stellar is trading in recovery mode. The coin has already climbed to $0.060 and is moving towards the immediate resistance level at $0.061. The improvement in the XLM coin price has already recovered yesterday’s loss. There is a strong possibility that the price would improve and return to the level from where it began. Yesterday, Stellar was seen climbing a high at $0.061739 and dropping to low at $0.059206.

Stellar Price Prediction

Yesterday, Stellar started dealing at $0.059829. The price dropped to $0.05848 by 2.24%. The price of XLM coin immediately picked up and touched $0.060292, with a progression of 3.09%. Later, the currency escalated to $0.06170 from $0.05975 by 3.26%. Then, it shifted down to $0.06037 by 2.15% and closed the day. The intraday movement of the XLM coin marked an overall progression of 0.91%. Today, the price movement is giving a mixed indication. The price jumped from $0.060376 to $0.060932 by 0.92%. Further, the currency shifted to $0.05973 by 1.97%. The current price of Stellar Lumens is at $0.06042.

Stellar price chart
XLM chart By TradingView

XLM is tilted towards the immediate resistance level as of now. In the coming few hours, the coin would breach the level. Here is the list of support and resistance levels:

Resistance Level Price
R1$0.061832
R2$0.063052
R3$0.064365
Support Level Price
S1$0.059299
S2$0.057986
S3$0.056766

The recovery in the price of the Stellar Lumens has given relief to the traders. The investors can now think of getting-in with a high prospect for profit. The currency is recommended for short-term traders.

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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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