- Stellar price has been affected by the ongoing bear sentiment in the crypto market as seen from the YTD price chart
Stellar (XLM) has been one of the prominent coins in the blockchain network and had a good start to the year. With the bear pressure mounting since end of June, the price pf XLM have had a downward swing and is still trying to recover. The YTD XLM price chart shows a variation in the range of $0.07–$0.12.
XLM to USD Price Analysis:
Stellar has managed to maintain its prices above the baseline even in the current bearish crypto market scenario, as seen from the YTD price chart. The price was at a high of $0.1230 on Jan 8. It went down to $0.0733 on Feb 6, the downward movement was to the extent of 40.06%. Then the bull phase began for the coin exhibiting a price rally of 79.67% on April 7 at $0.1319. By May 8, the price had slid to $0.0885, downward slide was to the tune of 33.41%. The market, however, picked gained momentum and so did XLM price surged by 45.14% on June 22 at $0.1280. The bears had by then made a strong foothold in the crypto market and this was evident in the continual downswing where the price reached to $0.0570 on Sep 24, the downward movement was to the tune of a good 55.46%. The current trading price is $0.0596, which is slightly better to the extent of 4.56%.
Stellar’s initial bull run in the crypto market for 2019 was an offset of the bearish sentiment which came into the market during end of June. The price of XLM has been on a continual downslide since then. Analysts expect the crypto market to be volatile for the short-term and have confidence in the potential of XLM.
Long-term investors should wait for the crypto market volatility to subside. Short-term and intraday traders have to be very cautious as the market is too much volatile at the moment.