Analyzing the 24-hour movement of XLM, Stellar price indicates over 3% growth from the lowest, i.e. $0.058 and 1.63% decline from the highest of the said time frame. XLM was trading at $0.059962 yesterday, holding a bearish move. The trading price of the coin was constant at $0.058568 for quite some time, marking the lowest of the said time frame and post which the trend started changing. XLM showed a growth of around 5% after this fall. The trend continued to remain bullish until the trading price area around $0.061 yesterday. However, if compared to the said price mark, the coin has started to recede currently. While writing this analysis, XLM was indicating a downward price trend.
Stellar Price Analysis:
Stellar today indicates a downtrend of over 3.44% when compared to the lowest of yesterday. However, important to note that the coin faced a double bottom in the said time frame at $0.058. The same trend is likely to remain, and with this, the analysts expect Stellar to trade above the baseline.
Today, XLM is expected to be traded in the price range of $0.058–$0.061. As per the present trend, we recommend selling the investment in Stellar, as an upward trend is not persistently maintained. The MACD indicator also points the bearish crossover below zero as the MACD line is crossed over by the Signal line. If the price of the coin continues to fall further, the major support levels may be seen at $0.057076 and $0.055621. Therefore, trading with a long-term perspective is the only resort to fetch the benefits.