During the massive price surge earlier this month, the price of Stellar Lumens amassed enough bullish traction and surged significantly against the USD. Stellar was able to gains for a couple of days before the bulls weakened out. The crypto bulls ran out of steam and the value of the digital currency plunged drastically. The price of Stellar Lumens plunged, so did most of the digital currencies in the market. However, the market started correcting higher and most digital currencies recovered a significant fraction of the gains they amassed earlier this month.
Stellar (XLM) Price Today – XLM / USD
The same downward trend seen earlier seems to be happening. The digital currency market recovered earlier this week. Some digital currency even amassed gains of more than 15 percent in less than a day. The sharp recovery also pushed the price of Bitcoin (BTC) over the $5,600 level. The price of Stellar Lumens (XLM) surged along with Bitcoin price when it was going up. However, the massive price reversal in the market has significantly affected the price of Stellar Lumens. The price of Bitcoin is not really affected. The digital currency is still trading in the green, hovering around the $5,600 level.
Why Is Stellar Lumens Price Plunging? – Stellar Lumens Price Forecast – XLM USD Live Price
The high volatility of Stellar Lumens has made some digital asset investors wary of the coin. While some consider XLM as one of the best cryptocurrency to invest, others see it as a risky investment. Recently, some analysts predicted that the price of XLM will plunge deeper before it will record any major correction. It appears that the price of XLM is undergoing the predicted correction. The digital currency has been in a bearish zone since on the 8th of April.
Is There an Imminent Bullish Breakout for Stellar Lumens? Will Stellar Lumens Recover?
From the recent Stellar Lumens price trend, the value of the digital currency has taken a big dip. For the digital currency to continue its bullish upward reversal, it needs to break out of that trendline. If this doesn’t happen, the price of Stellar Lumens will continue its downward movement. The digital currency is currently in the red against Bitcoin (BTC) and the US dollar.
The price of Stellar Lumens is likely to break out soon because the network has a lot of potential for development and growth. According to recent research, the blockchain of Stellar Lumens is the go-to platform for institutional investors that are interested in international settlement services. Stellar Lumens has also secured a lot of strategic partnerships such as IBM. IBM also wants to use the blockchain of Stellar Lumens for a project with partner banks.
Stellar Lumens Price Analysis – Stellar Lumens Price Prediction – Stellar Lumens Forecast
The price of stellar XLM is currently hovering around the 10 cents level. Stellar Lumens price recently surged higher and traded over the 11 cents level. Last month, the value of XLM traded as low as $0.07. However, the massive spike earlier this month pushed the value of the digital currency higher. Stellar Lumens even tested a new yearly high. At the moment, the digital currency is currently supported at the $0.095 level. However, the price of XLM doesn’t seem like it will be declining below the 10 cents level in the short-term.
The immediate resistance of the coin is at 11 cents level. The digital currency needs to break over this level in order to resume its upward trend. Stellar Lumens price prediction 2019 is 50 to 60 cents. Many analysts believe the digital currency might hit that level before the end of this year.