Stellar is down; but still has some Momentum for Recovery

The crypto market is not well looking like most of the coins have slumped in the short-term run. The Stellar coin is also following the path and slumped by almost 4% in the past 24-hours. The yesterday rally on the part of the coin is balanced by the today’s dumping.

XLM Price Value

XLM is currently hovering about $0.61 with -4% changes in the past 24-hours.

Market Statistics

Total Capitalization: $1,244,105,106 USD

24-hours Trading Volume: $237,062,853 USD

Total Supply: 105,423,795,556 XLM

Circulating Supply: 20,033,073,798 XLM

Stellar Price Prediction

The coin has not even supported by three consecutive support levels but there will be three consecutive resistance levels in the way of token to reach the same yesterday mark. These three resistance levels are standing at 0.62, 0.63 and 0.65 respectively. It is expected that the price will go down when seeing the current position of the crypto markets. However, it can make its journey in the upward direction with the greenish revival of the coin markets.

Stellar News and Events

The Stellar is a part of the Blockchain educational Alliance that is launched by MouseBelt.

We’re excited to participate in the launch of the Blockchain Education Alliance led by @mouse_belt. We’ll be helping train the next generation of blockchain builders and entrepreneurs!

 

55% Decrease in the last 6 Months

The XLM has not played well in the last six months but still, it has maintained its position in the top major coins of the coin market cap. The market capitalization is very good and it seems that giant investors have put their momentum. It is worth noted that the value was hovering at around $0.1 in the last days of May. But now it has slumped to the current figure of $0.61 and decreased by nearly 55%.

Conclusion

The resistance level at 0.06 will decide the short term fate of the XLM. However, the token has the momentum to show some more game winning moves. But the whole burden of the bearish market currently is controlling its direction.

Hassan Mehmood

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has got a degree in journalism.

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