Stellar (XLM) price has reflected huge price swings during the last 3 months. The currency had initially seen its price peak on February 13 at $0.0885. However, then it marked a strong downside momentum and fell to a low of $0.026. After that, the XLM coin has shown remarkable recovery and is on upward traction continually.
XLM’s 3-Month Rally with Possible Correction
If we look at the price trend of XLM/USD over the past 3 months, the price was at $0.0624 on the first day of February. Then, the currency managed to trade upwards, and it crossed its key resistance to reach a high of $0.0885 on February 13. However, after this immense growth, the price of Stellar Lumens spiraled downwards on a continual basis and reached a low of $0.026 by a massive plunge of 70.46% on March 13. After this tremendous fall, XLM coin managed to recover and started trading upwards and reached $0.0526.
After hitting $0.050 mark, the coin cooled down its pace, but again it managed to continue with strong upward momentum and the Stellar price spotted at $0.077 yesterday. Today, the currency faced moderate correction, and at the press time, it spotted at $0.07349. However, the XLM coin might continue to trade upwards as the overall trend is upward one since mid of March. If the currency faced strong pullback pressure, it might find the next support around $0.055.
Currently, the MACD indicator reflects a bullish signal, but the signal line is about to cross the MACD line, and hence, as per the XLM prediction, the Stellar price might face temporary correction in the upcoming days.
