Will Bear Pressure Take XLM Price Further Down?

  • Stellar price has again come under bear pressure over the past five days

Stellar price has been under bear pressure since the crypto market volatility has affected the prices of most altcoins. Though there was a sign of bulls resurging, currently the bears have again come into focus pushing the price downwards for Stellar where the prices are oscillating in the range of $0.061- $0.071.

XLM price has once again come under bear pressure from the past five days. With the bulls going strong on Aug 26, Stellar price was at a high of $0.07143. It came down heavily to $0.06371 on Aug 28 to the extent of 10.84%. Then it slightly recovered to $0.06439 to the extent of 1.01% within 4 hours on the same day. In the next 8 hours, on Aug 29, XLM price had fallen to $0.06119 to the extent of 5.06%. The price of Stellar recovered to the extent of 3.31% on Aug 30 at $0.06321. Now the XLM price is at $0.06214 which is lower to the extent of 1.59%. This shows that XLM price has been moving in a small range and with bears putting pressure, movement is very slow.

Stellar is still reeling under bear pressure nothing much can be said about the coin for the short-term. The bulls had made their presence felt over the past few days, but the bears have again started putting pressure on the price which is again moving in the lower range. Analysts feel the coin should be able to pick up by the year-end when the bulls will get back in full swing.

Investors can continue to hold their investments and think of investing from a long-term perspective as the market is still volatile.

Stellar Price

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