Will XLM Be able to Consolidate its Position in Bear Market?

  • Stellar price continues to be influenced by the bears as seen from the 5-day price chart

Stellar (XLM) price is trying to regain its position even in the current bearish crypto market sentiment. The prices are continually having downward and upward movements, which are putting pressure on the price. The price has been moving in the range of $0.061–$0.065 for the past five days.

Stellar Price Analysis:

XLM price is undergoing a lot of variations as the prices are being continually pressurized by the bears, as seen from the 5-day price chart. The price was at a low of $0.061 on Oct 17. The price shot up to $0.065 on Oct 18, and the upward movement was to the extent of 6.09%. The price fluctuations continued, and the price went down to $0.061 on Oct 20, the downward swing was to the tune of 4.63%. The price of XLM then showed signs of recovery and reached $0.0064, and the upward rally was to the extent of 3.19% on the same day. On Oct 21, the price again went down to $0.063, and the downward movement was to the tune of 1.58%. The current trading price for XLM shows an upward movement of 1.61% trading at $0.06.

Stellar-Price-Chart

Stellar had a decent run in the crypto market till the bears crept in. After that, it was downhill for the price of XLM, and the price has gone through a lot of fluctuations, which is expected to continue till the volatility subsists in the crypto market. Analysts expect the market trend to go bullish by the year-end and this could turn to be beneficial for XLM.

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