Stellar Lumens has been taking its investors on a real rollercoaster ride for a couple of days now. While other coins have been enjoying relative growth XLM has been shedding most of its price for more than a week. now. It is currently down about 9% from its price at the start of May 16th.
However, it has been reported by market experts that the sentiment for most of the investors is still “BUY BUY BUY”, but that sentiment may be cut short in the long-term as the coin is starting to form a bearish trend for the next month. The short term, however, is all game, unless last week’s market pattern repeats itself.
The current demand zone of XLM is $0.2, which will most likely be the hardest to achieve, but according to the simple moving average indicator, should that price point be reached another gear-up towards next milestones such as $0.25 and $0.4 will be much more realistic.
One thing that can be said about XLM is that it’s been pleasing bears for more than 2 weeks now with its performance, should it continue the same pattern by the end of this month, then the market entry point is sure to open up.
The best case scenario is that bears will jump in once the coin reaches $0.10 price point, and drive it up as high as 100% within a week of trading.
The upcoming bear for the mid-term is confirmed by the 73% stochastic oscillator and possible retracement at the $01.38 price point
At the moment, XLM may not be the best coin to enter a position with. As for those who are already stocked up, it’s best to either diversify or sit the next one or two weeks out and wait for massive price surges which will most likely occur at the $0.10 or $0.15 price marks.
Seeing how the overall sentiment is driving in that direction it could be the best option for now.