Ever since the Bitcoin bull rush began in the middle of May 2019, Stellar has been quite responsive to the market sentiment. It managed to surge alongside every other cryptocurrency in the market, but recently it has been experiencing tumble after tumble due to increasing bearish sentiment.
The coin is barely able to maintain itself at the $0.12 price point and many market experts are starting to think that the coin can’t handle the pressure down the line.
Although the coin has a strong support level of $0.10, it’s still likely that the massive volatility it has been going through these couple of days will still win out.
The Stellar bearish prices are quite easy to understand. The coin relies heavily on the traded volume per day and it simply hasn’t been getting any attention from the investors.
It seems like everybody is focused on Litecoin at the moment as there has been literally no price drop in the coin’s three to four-day experience.
As of now, there is no telling what the bears may do as they’ve taken control of the market completely.
The daily MACD tells us that crossing major supporting levels such as the $0.15 and $0.10 will trigger a bullish run before the end of June, but before that Stellar needs to somehow deserve the attention it needs so much from its investors.
The price changes within the last two days are a testimony to Stellar’s volatility in the coming days, it seems like it can’t maintain the $0.12 resistance level without suffering either a direct plummet or a plummet after a massive surge.