Stellar News

Bears Seems to Exert Pressure on XLM Price

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  • Stellar price has undergone a lot of variations as seen from the one-day price chart

Stellar (XLM) is a coin which has had a great start to the year and had been showing an upward momentum until the bearish sentiment crept into the crypto market. After that, the bears started exerting pressure on the coin and pushing the price in the downward range. The one-day price chart shows a price trend on the line of $0.0583–$0.0622.

Stellar Price Analysis

The one-day price chart for Stellar, as on October 01, has been a day of a mixed bag with a lot of price variations in the upward and downward range. At 2:24 UTC, the price of XLM was at $0.0622 and around 9:29 UTC, the price fell to $0.0603 by 3.27%. The price then recovered slightly at $0.0612, recovery was to the extent of 1.52%. This was short-lived as at 17:56 UTC, the price of XLM had a fall at $0.0583, the fall was to the tune of 4.78%. From here, the price went up to $0.0591, upward movement was to the extent of 1.49%. The current day’s price is at $0.0578 which is lower by 2.12%.

Stellar Price Chart

Stellar has been one of the few crypto coins on the blockchain network which managed to have a good start to the year. The coin had been able to maintain a stable upward momentum until the bears crashed into the crypto market by the end of June. After that it has been a roller coaster ride for the coin but still it has managed to be above the baseline price most of the time. Analysts are confident about the potential of the coin and expect it to get back to its winning ways by the year-end.

Investors shouldn’t worry much about the current crypto market volatility as this is a temporary phase that will pass. Short term and day traders can make gains if they trade wisely in the current market scenario.

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