Stellar Lumens Price Drops by 8.9% But Buyers Remain in Control – What’s Next For XLM?

While today began with reports that XRP is looking to form a Golden Cross Trendline which could take it into bullish territory, it didn’t start well for the price of Stellar Lumens. A critical analysis of the chart highlighting trading for the XLM/USD pair shows that the price of Stellar Lumens reportedly dropped off 8.9%. One noteworthy mention is the fact that despite the 8.9% price drop buys still remained in control of Stellar Lumens.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$45,620.00
stellar
Stellar
$0.299

Stellar Lumens Price Prediction: Stellar is Bullish in the Short-term and Bearish in the Medium-term

The short-term trade pattern for the price of Stellar Lumens is in a bullish territory. The medium-term outlook remains in a range-bound position. Investors must be patient at a time like this. The supply and demand zones for the price of Stellar Lumens  $0.2000, $0.2500, $0.3000 and $0.0800, $0.0600, $0.0400 respectively.

The price of Stellar Lumens continues to trade in range-bound position in the market for its medium-term outlook. The recently gathered bullish momentum returned the price of Stellar Lumens within the range after it had gone on a weekend of drawdown. Moving to $0.1219 but still in the demand area by bears. With a huge marubozu candle situated at the $0.1228 position and the two EMAs was then broken before the XLM/USD. $0.1360 and $0.1442 are the current areas in the range.

The 4-hour candle representing the $0.1382 price position is an inverted hammer that is an indication of a possible retracement in the range. The same thing is further confirmed by the sign of the stochastic oscillator down at 73%.

Stellar Lumens Price Prediction: The Price of Stellar Lumens Drops to $0.1356 After Being Bullish Days Ago

The crypto is in an uptrend for the short-term outlook. The impulsive price action or movement by the bulls took XLM to $0.1427 in the supply region. Hence for the second time this a week needed a correction. The price of Stellar Lumens dropped to $0.1356 in the demand area as trade open today.

The downside movement for the price of Stellar Lumens is almost certainly going to continue to the 50% Fibonnaci retracement position before there can be a trend reversal position before any possible bullish continuation for the short-term outlook.

The price of Stellar Lumens is under the 10-EMA as well as the stochastic oscillator which points under to 24%. This suggests a brief downward movement in the price of the Stellar Lumens in the short-term before it can initiate any upward movement.

Stellar Price Prediction: The Price of Stellar Lumens Trading at $0.135 at Press Time – Stellar Price Forecast

According to data given by coin market cap, the price of Stellar Lumens was trading at $0.135 as of press time after dropping 8.9% since its last bull run. Stellar is down by 1.81% in the last 24 hours. Stellar Lumens has a 24 hour trade volume of $536,026,614 and total market capitalization of $2,575,403,982. It’s circulating supply 19,299,666,166 XLM. Now is the time to stack up XLM as investors could double or get more than four times while.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.