Stellar Price Analysis: XLM Reverses Yesterday’s Price trend
Stellar price movement has always remained hasty. The improvement in the coin that embarked during yesterday’s closing hours has given hope to many traders. The same momentum is still intact, and by the end of the day, the speculations about upsurge are ripe.
Over the last two days, XLM coin managed to hover around $0.040. Yesterday, the intraday high was marked at $0.042638. However, today, the counter has already been breached. The current momentum of Stellar Lumens is indicating that the day ahead might remain marginally profitable.
XLM/USD Price Chart:
Yesterday, XLM coin started dealing at $0.0406, and within the first 30 mins, the price escalated to $0.0409. Later, the currency marked a marginal drop to $0.0403, but in the next 3 hours, it touched $0.0409 again. Further, the price of Stellar cryptocurrency plunged to $0.0402 at 07:07 UTC by 1.83%.
The price improved in the later hours and touched $0.0407. Then, the coin started trading under strong bearish hold and kept the price intact around the same level till 20:21 UTC. Later, XLM reflected an upsurge from $0.0406 to $0.0423, but then it immediately faced a price fall. The coin plunged to $0.0419 but then took the price counter to $0.0429 and closed the day.
The intraday movement in the currency reflected by a 5.64% upsurge. Today, Stellar started trading with the uptrend. The price counter reached $0.0435 at 00:20 UTC. The coin slipped slightly to $0.0425 but recovered again to $0.0431 at 04:14 UTC. Recently, the XLM price dropped to $0.0420 by 2.58% and is now at $0.0419.
As per the current price movement, the currency might hold its ground above its immediate support at $0.0409. The chances of dropping to the immediate support level are relatively more. For now, the fluctuation in the market seems disturbing for the traders, yet the chances of the upcoming rally are not fading.