Will Stellar (XLM) Continue the Bearish Downturn for the Short-term?

Stellar Lumens was one of the few coins which had withstood the bear pressure with great gusto. The 3-month price trend shows the price starting below the baseline, but after a few days, the coin picked up steadfastly. However, the bears got the better of the coin near the end of the 3-month and the XLM price was perennially on a downward swing. The price was seen fluctuating in the range between $0.04 – $0.08.

Stellar Price Analysis

XLM coin could manage to put a brave front against the continual bear pressure, as seen from the last three months. The price of Stellar cryptocurrency was at a low of $0.0575 on October 06. Then, it went on an uptrend even under huge volatile moments in the crypto market and reached a high of $0.0818 on November 05 showing an upward movement to the tune of a huge 42.61%. It maintained its stable upward momentum for some time till the bear started exerting more pressure. From then onwards, the XLM price was a slide in the downward direction. On November 24, the price of Stellar Lumens slid to $0.0568 showing a fall of 30.48%. The coin further fell to $0.0446 on December 18. At the time of writing this piece, the Stellar price has recovered slightly.

Stellar Lumens News
XLM/USD Chart By TradingView

XLM price had a good run during the three months, but the bears succeeded in pushing the price below the baseline towards the end of the period. Analysts are, however, unfazed by this short-term bearish trend and expect it to put up a good stable momentum by early 2020. The coin has shown great capability in the past, and as per Stellar predictions, the coin is to be expected to perform well in the future. Day traders should be aware of the volatile trend and invest with care.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

Related Articles

Back to top button