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Stellar price analysis 3 June 2019; struggling with the bear but still a lot of potential

XLM price analysis 27 may 2019

Stellar cannot be named as the best performing cryptocurrency in 2019, that title definitely goes to LTC and Bitcoin, but it’s still forming quite the bullish trend as we speak.

Today, unfortunately, Stellar fell prey to the bearish sentiment once again, but it has finally broken the three-week-old market pattern where it would decrease on Wednesday and increase on Friday.

But the pattern break brings its own challenged. Now, short term traders are in much more trouble as the price is hard to predict for a day or a week in advance. For HODLers though, it’s the best time to invest while the sentiment is bearish, in order to form yet another bullish run.

The major resistance levels for XLM are forming at $0.1349, the price it fell from not too long ago, even more, resistance is to be expected at $0.1395, and the final push at $0.1450 will determine the coin’s relevancy in 2019.

Should it surpass these prices than the long-term predictions will become a reality.

XLM price chart

XLM chart by Trading View

In order to pass these prices, HODLers need to be prepared to enter the market as soon as the $0.1281 support level is broken, it’s unlikely that the coin will continue on a downward spiral after such a massive drop.

The only arguments to be found about an XLM push in the future are its relevancy in the blockchain. Features such as superior smart contracts and advanced KYC compliance will make it stand out from the rest of the coins.

Naturally, it’s not expected to have it dominate the market instead of BTC, but a price breach of the $1 mark is to be expected by the end of 2019.

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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