Stellar cryptocurrency may have been trading with bullishness since the starting of 2020; its price movement of last 3 months shows that the coin was trading under market pressure in the said timeframe. XLM price has been down by a whopping 24.18% in the last 3 months.
Stellar: No Signs of Immediate Reversal Yet
XLM coin was being traded at $0.063084 on October 09, 2019. The next 26 days saw a constant strengthening in the coin price. It touched $0.084117 with the help of a 33.34% hike. It was followed by a 36.83% price drop that cost it $0.030. This variation pulled Stellar price to $0.053138 by November 25, 2019. The continuation of this downward momentum can be noticed since then. Between November 29 and January 08, XLM’s value has been tapered off by another 21.33% and touched $0.046891. The current price of Stellar coin is now around $0.047.
As per the XLM News, currently both the 50 days and 20 days moving averages are trading above the current price of XLM coin. Investors should not expect any miracle to happen overnight. The currency will take its own time before showing any intent for growth. As of now, we can expect a moderate movement in the price. As per our Stellar predictions, It may find the coin next support at $0.04691.
Resistance and Support Levels
R1- $0.05030, R2- $0.05189 and R3- $0.05369
S1- $0.04691, S2- $0.04511 and S3- $0.04353
