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Stellar Lumens price analysis 12 June 2019; a new bullish trend to $0.13?

XLM price 14 may

Stellar was in a pretty rough shape yesterday as it nose-dived from its recent peak to $0.124, but that’s just one slice of the cake.

Today, Stellar managed to surge to new heights as it surpassed its recent peak and is heading towards a completely new resistance level of $0.13 by the end of this week.

It did have a tumble early in the morning but a correction was quickly followed up at the $0.121 and $0.123 resistance levels. Luckily for XLM, the price kept surging, but it’s not clear whether or not the coin will reach something as high as $0.13 by the end of this month.

XLM price chart

XLM chart by Trading View

Stellar is in quite a precarious situation as it’s continuing to struggle in terms of popularity. The XLM blockchain network is pretty similar to TRON and XRP, the problem is the traction that it gets. Sure it may surpass TRON in terms of price but there is a whole slew of different factors at play here.

Regardless of the non-technical aspects of XLM, it is still in the process of forming new support and resistance levels as we speak. Currently, the major support level lies at $0.124 while the resistance is somewhere near the $0.120 mark.

When it comes to long-term predictions, it’s expected that the bullish sentiment is simply not going to last for XLM and it’s going to fall from grace sooner or later.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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