- Stellar Price Analysis shows that the market is quite stable today.
- XLM/USD has marked a slight increase from $0.3165 to $0.3251 in 24 hours.
- A further downslide in the price is not expected for now.
- This could be a good time for any short-term investments as the bulls can take over any moment.
Stellar Price Analysis for today indicates that the bulls have taken over after yesterday’s fall from $0.336 to $0.3186. The last 6 days have been quite underwhelming as the coin has struggled to retrace the major loss from the 7th of September.
In the larger picture, the crypto market has remained in the green as shown in the heat map above. Bitcoin’s price rose by 4.15 percent while Ethereum marked a 3.44 percent increase. However, few altcoins such as ADA, SOL, and AVAX marked a decrease in the price.
The 1-Day graph Stellar Price Analysis further gives us insights into what to expect in the next few hours. As we can see, the RSI curve is just slightly beyond the 45 levels. Hence, the market is balanced for now. Though, the curve can be seen projecting upwards.
This slight projection could slightly shift the market more towards the overbought side, hence causing a slight increase in the prices. However, retracing to a high of $0.4244 which was observed on the 7th of September seems unlikely today.
24 hours Stellar price analysis: XLM/USD bulls indecisive
Currently, Stellar is trading for $0.3251. Exactly 24 hours ago, the price of the coin closed at $0.3165. So, some increase in the price has been observed in comparison with the last date, thanks to the bulls that seem to be pushing the price up constantly. Still, though, there are bearish periods in between as the resistance seems to be high.
Currently, Stellar has a market cap of 7.558 billion with a circulating supply of 23.68 billion. The coin’s market rank based on the market cap is currently 31.
4-hour Stellar price analysis: Market seems quite balanced
Looking at the 4-Hour Stellar Price Analysis chart, we can see that the market is balanced today. There has not been much volatility in the price. Though, the trend shows us an overall increase, albeit not a steep one.
For now, the RSI indicator on the 4-Hour analysis is touching the 47 levels, however, it points slightly lower, hence indicating a slight shift to the oversold side. Though, not much fall in the price is expected today as the entire market remains somewhat bullish.
The MACD indicator on this chart gives good hope for the next few hours as the histograms lie in the green zone. In the next few hours, we can expect the price to undergo a slight increase despite some bearish periods in between.
Stellar price analysis: Conclusion
Today, the XLM/USD market is quite stable. A further downslide in the price is not expected and hence, it might be a good time for day traders to make any short-term investments. Eventually, the resistance will lower, and the bulls will start taking over, causing a hike in the price before an inevitable fall again.
Until that happens, check out our detailed guides on crypto investing.
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.