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Stellar XLM price movement is leading market?

Stellar XLM price movement is leading market

Stellar Lumen (XLM) has been following the current market trend recently without any variations. Stellar XLM price has faced a contemporary pressure towards the lower side due to its technical rejection from the value of around $0.054.

In the crypt-market, XLM simultaneously faces a downward trend. Since a recent Bitcoin (BTC) fluctuation has surfaced at the time of writing, the entire crypto-market is fluctuating which has simultaneously played out in increasing the value of Stellar a little bit (to $0.055).

Stellar XLM price chart - 6 December 2019Stellar XLM price chart by Trading View

If a comparison is drawn between the Stellar XLM price movement and BTC, the pair’s price has fallen from a peak in November around about 40 percent. Concurring to technical analysis, the pair has been involved in a bearish trend when observed in a daily trend. From the opening price of December, the pair has been trading at a percent below it.

Stellar XLM price movement: What to expect?

A short-term analysis shows the pair panning out a 14 percent decline in its value. If this pattern continues to play out, as it did in September 2019, Stellar Lumen might fall down even further to reach $0.048).

If the BTC and XLM pair gets successful in being arisen about 20 percent in a bullish trend to acquire at least a little more $0.066 ideally, the currency might stabilise.

Stellar Lumen is currently being over-sold, and the moving average convergence divergence (MACD) shows a bearish trend. Thus in the short-term, the currency is neutral at about 64 percent but panning it out on a long-term canvas, the currency is at least twenty three percent bearish.

Even though Stellar Lumen is a very important cryptocurrency, failure to get out of the bearish entrapment is working negatively for the currency. A surge is vital to prevent the cryptocurrency from falling back to the downward trend faced by the currency in September this year.

Featured Image by Stellar

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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