Stellar Price Analysis: XLM May Fetch Bearish Return in the Short Term
- Stellar has recently announced Mike Kennedy as the new CEO of the organization.
- Further, Keybase, a well-known crypto wallet, announced the biggest XLM airdrop of all time. According to an estimate, it is airdropping around 2B XLM for the next 20 months, 100M XLM each month, to its users.
Current Statistics of stellar:
- On September 15, at UTC 07:45, Stellar (XLM) was trading at around 0.0588 USD.
- Additionally, it is ranked at 12th place in the cryptocurrency chart.
- The last 24-hour volume in the altcoin was 151,861,244 USD with a return on investment of 1,830.92%.
- At the above mentioned time, the total market capitalization of Stellar was $1,153,971,099.
- Further, a total of 20,083,652,610 XLM were circulating in the market, at the time of writing.
- Along with that, Stellar Vs Bitcoin was valued around 0.00000556 BTC per chip.
Stellar Price Comparison:
As a standard way of analyzing, let’s have a look at the price variation of the coin over a period of 25-days. On August 19, Stellar (XLM) was trading at 0.0715 USD. However, since then its value dipped by a margin of 17.76%. In a week trading, the coin broke down by a margin of 3.83% from the marked price of 0.06118 USD on September 09.
Stellar Price Prediction:
In the intraday trading, Stellar (XLM) has shown a strengthening of more than 1.5% and further moving horizontally. As per our prediction, the altcoin will touch $0.5 USD mark by the end of the year. For now, the immediate resistance for the crypto is at 0.0597 USD, and a support level is at 0.0562 USD.
At present, the action in Stellar is almost flat. Although the coin is in the red zone, it is moving firmly toward the upper side of the chart. At present, the short term trend in the crypto is bearish. However, the long and medium terms are bullish.