Stellar Price Prediction: Stellar Lumens Price Turns Bearish, Will XLM Recover?

Even though the stellar price is close to the $0.118 area, the coin has lost composure and began fluctuating due to high volatility. Stellar is currently priced at $0.10254 at press time. The coin is currently ranked at number 12 among the top crypto by coin market cap. The coin has a daily trading volume of $251.502 million in the last 24 hours. The coin’s circulating supply stood at 19,425,049,496 XLM as of when this content was published.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$8,192.330.092%
stellar
Stellar
$0.0640.405%

Stellar Price Prediction: Stellar’s Totally Market Capitalization Saw A 0.99% Boost

The total market capitalization of Stellar [XLM] stood at $1.99 billion as of July 7. This implies that the coin saw a minor boost of about 0.93% in the last 24 hours. The price of stellar as of yesterday July 6, was at $0.0998. If there’s a breakout price action beyond the $0.106 mark, then buyers will be able to take control of the action. The price of stellar may go up to the $0.145 level, after which there’ll be some level of resistance observed.

The weekly candle for XLM in the past week pointed toward movement to the $0.095 position. The present weekly candle for stellar price hasn’t confirmed the actual analysis for a slight bullish change for the coin.

Stellar Price Prediction: Stellar Did Well in the Previous Year

Looking at the upper trend of the descending channel, we can see that it’s holding at $0.145 as well. Hence. This price position is a key area for XLM. If the buyers can proceed over this, it will point to a green pattern for the near future. Coming to the case of sellers, the $0.095 support line has to be beaten, which might inevitably lead to the coin’s price losing a rank.

If the price of stellar falls, it may eventually sink to $0.05. However, if there’s an ascent, this may bring about the possibility of the formation of a new high.

In the previous year, the stellar token was a bumper champion in the crypto market. XLM price was able to move the gravy train despite the fact that many other crypto coins were suffering. It should be recalled that Stellar’s partnership with IBM helped the coin secure to this latest price surge which made it arguably one of the most profitable ventures in the year before.

Despite the Backing of Goldman Sachs and UNICEF, Stellar Price Has Endured Dark Days Recently

However, as always, volatility must come in to play because the rules have evolved over time. Even though reputable institutions like Goldman-Sachs and UNICEF both backed Stellar as one of the leading tokens, the price of the coin has had to endure more dark days during the year 2019.

Jed McCaleb was initially considered to be an immensely influential individual’s now he has at least two major cases (involving Mt. Gox exchange) to his name. To make matters worse, both the TRON and Cardano protocols are yielding better results when compared to that of stellar. The question is will the current situation change?

Only time will answer this question. Hence we must wait and see.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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