Stellar has retested and broken the $35 mark this week. It still holds on to its position as the best performing currency for the past 24 hours, and appears to be on pace to break the $38 mark as well. The current price is up by a massive 3.2% in the past 24 hours, and we’re expecting access to the coins to rise to an average of about 10 cents within the next few days. If you’re looking for a currency that could perform significantly better, we recommend looking into Bitcoin Cash (BCH), as it has a rough chance of overtaking Bitcoin by the end of the year.
So you’ve heard of Stellar? It’s the 8th largest cryptocurrency by market cap, and the 3rd ranked cryptocurrency to mine, behind Ethereum and Bitcoin. You may also have seen its price increase from under a dollar to over $0.20 in the past month. That’s the classic speculative move, and it looks to be over in the near future. In order to avoid getting caught by the bust, investors need to watch stellar price analysis.
The cryptocurrency market has been quite stable of late, and many of the top coins have been consolidating. Bitcoin (BTC) has been holding its own this week, after dropping a little lower last week, and is currently trading at around $3,700. It has been outperforming most altcoins this week, and is currently over 40 percent higher year-to-date. Meanwhile, Stellar (XLM) has been holding on to its $0.11 highs, having rejected yesterday’s high of $0.12—with more gains likely to be seen in the near term.
Summary of the situation
- XLM collapsed last night.
- Support at $0.30 will be tested again.
- The next support target is $0.26.
Today’s Stellar price analysis is bearish as the market retested the $0.37 resistance that previously served as support and moved lower overnight. Therefore, we expect the XLM/USD to move towards $0.30 in the next 24 hours. Crypto-currency heat map. Source: Coin360 Overall, the cryptocurrency market has been in negative territory for the past 24 hours. Bitcoin fell 0.5 percent and Ethereum fell 3.8 percent. The rest of the market follows this pattern of bad losses.
Strong price movement in last 24 hours
XLM/USD was trading in a range of $0.3273 to $0.3501, indicating moderate volatility. Trading volume fell 11.24% to $768 billion. At the same time, the total value of the market is $7.8 billion, putting the cryptocurrency in 19th place overall.
4-hour chart XLM/USD – XLM moves away from $0.37
On the 4-hour chart, we see XLM retesting the previous $0.37 support level as resistance and setting itself up for a weekend decline. four-hour chart XLM/USD. Source: TradingView Overall market momentum has remained down in recent weeks. After Stellar fell more than 60% in May, the market found support in the $0.35-$0.30 range and recovered quickly in the hours that followed. This has given a clear signal that the bears have no chance and we can expect XLM/USD to turn higher in the coming weeks. A strong high is yet to be established, with the latest swing high at $0.45. Once a higher high is established above the $0.45 level, we can expect XLM/USD to trade higher and approach the previous all-time high. Moreover, XLM/USD has bounced lower in recent days, hitting a low of $0.32, indicating that the bears are still in control. This development means that the bears are still in control and it is better to stay away for now. Once the price of Stellar forms ups and downs, we can look for an entry opportunity with hopes of seeing more increases later in the month.
Stellar price analysis: Supplement
Stellar’s price analysis is bearish, as XML met resistance at $0.37 yesterday and is now starting to move lower with the next support target at $0.30. Therefore, we should see a further drop in the Stellar price over the next 24 hours. In anticipation of more Stellar price action, read our guides on buying bitcoin, trading bitcoin, and the bitcoin crash in 2021. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The Stellar price has been a rollercoaster of late, with a lot of things propping it up and then pulling it back down. At the time of writing, Stellar is again on a steady upward trend, and there’s a lot of news and chatter about it. Why? Its price is interesting, of course, but it’s also a symbol of the ingenuity and optimism that has come to define the cryptocurrency world in recent years. It is not just the currencies themselves but the technology behind them that is becoming increasingly important.. Read more about stellar crypto news and let us know what you think.
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