Stellar Lumens Price Falls Significantly But The Bulls Aren’t Out Of The Game Yet, A Price Surge Is Coming Soon

Stellar Lumens News Today – Stellar Lumens is currently in a major bearish trend just like virtually every other cryptocurrency in the market. Throughout the weekend, the price of Stellar Lumens fell significantly losing the support at $0.1200 which it held for many days. However, the mid and long-term technical indicators show that the price of XLM isn’t going to remain in the downtrend for long as the bulls will soon gather momentum. You see on a month by month basis, the price of Stellar Lumens is gaining slowly against the USD. However, it is falling on a daily and hourly basis. Why is Stellar Lumens XLM falling and when will it recover?

Stellar Lumens News Today – Stellar Lumens Price Analysis – XLM Price Prediction – Why Is Stellar Lumens Falling?

Over the last few weeks, the price of Stellar Lumens XLM has been extremely volatile. The Bollinger bands are extensive indicating that a bullish breakout or a bearish breakdown can still occur anytime soon. The Stellar Lumens trading volume is also extremely low and this is encouraging the extended sideways trend. There is strong selling pressure on the daily trend but the weekly trends reflect a slight bullish push. Yesterday morning. The price of Stellar had a spot price of $0.12233. There was a strong resistance at $0.11058 which it was unable to break until towards the end of trading. There were support levels at $0.102453 and $0.10501. Fortunately, the price of Stellar Lumens XLM was unable to stay above these support levels. It even recorded some intraday gains before the bears returned with full force pulling the price down.

On a monthly basis, the price of Stellar Lumens XLM is standing between the pivot level and the support level and the price is suffering the effect of the downtrend. The moving averages and other technical indicators pointed to a sell-off and this is exactly what happened yesterday. Even if the bulls will resume the push on the market soon, it’s better not to place high bets at this time. So, this may not be the best time to make any rash trading decisions like buying the dip or selling off because the market is contradictory. Playing it safe until there is a more significant move would be beneficial.

Stellar Lumens News Today – Stellar Lumens Price Prediction 2019 – Current Price Of Stellar Lumens – XLM Price Prediction

At the time of writing, the price of Stellar Lumens XLM was $0.119280. This means that it is down by 4.82% against the USD and down by 2.14% against the BTC. The trading volume over a 24 hour period is $375,251,522 and the market capitalization is $2,305,889,432. There is a chance of a breakout happening before the end of the week. So, waiting for it may be a good way to go. Long-term, the price of Stellar Lumens XLM is expected to move as high as $1. Patient traders can benefit from this move. There are a lot of developments going on within the Stellar network that will encourage such a surge in price.

What do you think about the Stellar Lumens price prediction in our Stellar Lumens news today? Is A downtrend more imminent than an uptrend? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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