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Price Analysis

Stellar (XLM) Reflects Vulnerability with Intraday Trading

Yesterday was a day of relief for the Stellar traders, but today, the bearish trend has returned. Well, in this bearish trend, recently, there has been an improvement noted. We believe that selling pressure is finally relieving the market and there is a possibility of positive closing.

Talking about yesterday, Stellar was seen touching a high at $0.062060 and a low at $0.058549. The volume marked on yesterday’s chart was at $163,726,395.

XLM to USD Price Comparison:

The data feed is taken from Bitfinex on October 02, 2019, at 10:22:45 UTC for price analysis.

Stellar Price
Stellar Chart By TradingView

Yesterday, XLM began the day with a fall and the price dropped from $0.062 to $0.060 by 3.04%. The price moved up to $0.061 by 2.96%. Again, XLM fell by 4.19%, which took the price to $0.059. The drop continued and took the price to $0.058 by 3.11%. The intraday booked a heavy loss in XLM of 5.58% and it closed the day at $0.058. Today, the fall stayed and took the currency to $0.057 by 1.43%. Recently, the price recovered and moved to $0.058.

The coin has the potential to come out of a heavy drop within a day. Stellar Lumens is in the continuous process to gain back the popularity. The future of the coin is likely to bring profits and hence investing XLM wouldn’t go futile.

Keeping the volatility in mind, Stellar is recommended for short-term investment. The long-term period might carry risk hence, it is suggested to be ignored.

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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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