Stellar price analysis: Bulls controls Stellar market

Stellar price analysis

TL: DR Breakdown

  • The general view of the XLM market is bullish.
  • The stellar coin has also dropped by 4 percent, and it is trading at $0.3004.
  • The giant virtual currency is in huge losses as it drops to $35k.

Stellar price analysis: General view

Yesterday’s chart closed with bearish momentum. Sellers came into the market in numbers causing the price to close at $0.2951. In the early trading hours, the bulls gathered in enough strength and successfully outnumbered the sellers, following a rising wedge. At the time, the bears were preparing for an attack. The bullish trend faced resistance at $0.2952. Again, sellers came in numbers and forced the price to drop. However, the bears did not dominate the market for long. Bulls took the wheels, forcing stellar prices to surge, forming a flag trend reaching the intraday high of $0.2975. By now, bears had gathered enough strength to fight the bullish market. In the battle, the sellers emerged victorious, forcing XLMto drop to an intraday low of $0.2882.

The entire cryptocurrency bleeds off. The cryptocurrency heat map indicates most altcoins are in the red zone. 

Stellar price analysis: Bulls controls Stellar market 1
Source: Coin360

The giant virtual currency is in huge losses as it drops to $35k; even though it has recorded a drop in its price, it still dominated the crypto space with 46 percent dominance. Unfortunately, the Stellarcoin has also dropped by 4 percent, and it is trading at $0.3004.

Stellar price analysis: Stellar price movement in the last 24-hour 

The 24 hours chart began with a bullish momentum be many bears battled down and sending its price down to intraday lows of  $0.2882. It did not take the buyers long to respond. The response saw a price surge in the head and should trend. On the daily chart, the highest price was $0.3069.

Stellar price analysis

Stellar price analysis: 4-hour price chart

At the beginning of the 4-hour price chart, sellers had dominated the market. Thereby forcing the price to fall. However, the bearish weaknesses have faded out, and there are positive signals for bullish momentum. If buyers continue coming into the market, the bears will be unable to reverse the trend hence the price of XLM will surge to around $0.35.

1-hour price chart began with a bearish momentum before the buyers consolidated courage and broke the bearish trend, sending the prices high. The coin traded with a relatively straight line trend. In the 1-hour trade chart, the green candlesticks filled most parts of the chart. Signaling a bullish momentum. The bullish momentum might continue in few hours and send prices very high.

Stellar price analysis conclusion

The general view of the XLM market is bullish. If buyers continue flooding the market, Bears will be forced to surrender, and the prices will surge.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Moses Kimathi

Moses Kimathi

Nothing else motivates Moses than crypto. He loves writing and following closely events on the king of crypto. In five years time, he is looking forward to riding the crest of Cryptopolitan as the go-to site for critical thinkers and influencers.

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