logo

XLM price analysis 16 May 2019: down since yesterday bull

XLM price 14 may

Stellar had a rough night yesterday and is still trying to recover from the damage. In fact, one of the main contributors to the damage was the small technical difficulty on its blockchain network. However, it has started operations once again.

Stellar is not the only coin that decreased in price yesterday, as nearly every single crypto saw a small dip in prices overnight. However, every crypto including Stellar is forming yet another bull market for the end of the day. In fact, it is possible that this new bull market will surpass the previous one, and continue until the end of the year.

XLM price analysis 16 may 2019

XLM chart by TradeView

Stellar can say that it has had a relatively OK-ish overnight bear compared to other cryptocurrencies as it is currently enjoying a more than 25% increase since morning.

Many investors believe that the Stellar and Bitcoin Cash technical issues were the primary contributors to last night’s bear market as transactions were not possible, therefore price movement was pretty much unheard of for a few hours. When other investors saw such a development for coins in the Top 20, they quickly decided that the bull was over and caused a chain reaction in the whole market.

This is the theory that bulls are relying on as they try to form a new momentum. Looking at the price at which it is sitting right now $0.148, compared to last night’s $0.138, it’s easy to see that the momentum has already begun. Whether or not that momentum lasts until 2020, or as little as tonight, remains to be seen.

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."

Related News

Hot Stories

Dogecoin price analysis: DOGE swiftly drops 10 percent, higher local low set?
Aave price analysis: AAVE/USD prices slip below $104.21 as market conditions turn bearish
Why learn blockchain, Defi, and crypto technology at a top university?
What is Replay Attack? Possible impacts on your Ethereum NFTs & precaution
How to Buy Shiba Inu: What's Popular about SHIB

Follow Us

Industry News

Why learn blockchain, Defi, and crypto technology at a top university?
Best Twitter thread of the day - August 17th
Top tweets of the day - August 17th
New York Court rules in favor of Celsius Network to sell mined Bitcoin. More sell pressure?
All you need to know about Dogechain, an L2 DeFi solution for DOGE users