Price Analysis

Stellar (XLM) Price Exhibits Possibility to Escape From Bearish Trend

  • Stellar breaches its immediate resistance level at $0.061
  • Intraday trading might be profitable for traders

Stellar is indicating towards a profitable intraday movement as the coin trades around $0.061. It has already breached its immediate resistance and moving towards the next at $0.063. The last level marked around $0.064. The movement in the price is indicating towards a flourishing day.

However, the market is bearish, there are chances that Stellar comes under market pressure and falls. The price might slip. In that case, XLM coin would find the support at $0.058. If the same continues, the coin can get the next support at $0.057 and the last at $0.055.

XLM Price Analysis:

XLM Price Analysis
Stellar Price Chart By TradingView

The price was at $0.062 at the beginning of last month. With a slight uptrend and later a fall, Stellar booked a major escalation of 54.29% on September 18, 2019. XLM price counters moved from $0.058 to $0.089. The price couldn’t hold itself and fell to $0.051 by 42.59%. The last few days of the month booked recovery of 20.81%. The price moved to $0.062 and closed with a slight loss of 0.38%. In October, the first few days brought a drop of 6.26%. The price moved from $0.062 to $0.058. Thereafter, the price moved up to $0.064 from $0.058 by 10.69%.

Stellar is quite a volatile coin. The recent movement in the price has changed the momentum. The currency is seen trading at $0.060. However, there is also a slight uptrend noted in the XLM. The future of the coin is promising. Yet, the recent days could expect a downfall or a less profitable day.

XLM coin is mostly recommended for short term traders due to its volatility. The long-run might carry some risk, hence we do not vote for the same.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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