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Stellar price analysis 23 July 2019; Stellar lost 30% in the last 30 days

stellar price analysis 5 may price down

Much like any other altcoin in the market right now, the Stellar price analysis seems to be showing an equally bleak picture for the coin in all long, medium and short terms.

In the last thirty days, Stellar XLM has lost more than 30% of its valuation despite the small upticks here and there. It has dropped from its weekly high of $0.0971 to a low $0.0844 at press time.

Stellar price analysis

Stellar chart by Trading View

All the signals are showing the continuation of the bearish trend for Stellar, but nothing too serious. The coin is currently nearing the “oversold” area below the historic $0.0850 support level, breaking which would introduce another bearish trend towards $0.0600.

The only different thing about Stellar that we saw during the last month was that it wasn’t necessarily following the market trends step by step. In fact, during major market upticks, the coin would lag behind a few days before surging itself.

Now that nearly all of the market is anticipating a BTC market dominance, the Stellar price analysis and prediction seems even bleaker as the coin will have a very small space for growth.

However, the long term for Autumn 2019 seems a bit more re-assuring as the altcoin season will definitely start once Bitcoin exhausts its support. Stellar could be one of the largest gainers should it pass the psychological $0.1 resistance all the way up to $0.5 by Christmas.

But as of now, the coin could only work as a long-term investment.

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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