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- 1 The Stellar crypto price slipped to a multi-month low value.
- 2 At the time of writing, XLM crypto was at $0.108, recording a swift intraday drop of 0.70%.
The Stellar price is experiencing a bloodbath after the buyers failed to establish their presence near the 200-Day EMA. The crypto has been closing in red for the last couple of weeks and digging on the lower side.
Earlier, the XLM price closed near the weekly low value and started off this week in the same manner. Yesterday, the crypto suffered losses again and broke down below last week’s low suggesting the continuation of the weakness.
Looking over today’s price pattern formation so far, the bulls attempted to recover in the morning session however, bears dominated in the afternoon session and trimmed off the morning gains.
At the time of writing, the crypto trades at $0.108 after recording a swift intraday loss of 0.70%. The price is in a short-term downtrend due to which it may continue to drift lower and incur more losses.
Moreover, it has a live market capitalization of $3.08 Billion. The volume to market capitalization is 1.73% suggesting very low volatility.
Stellar Crypto Price Trend Analysis
The Analysis of the XLM/USD crypto chart over the daily time frame showcases a sideways outlook in the long term. The crypto is hovering in a large range of nearly 25% and respecting the upper and lower boundaries of the range.
On the supply side, $0.13 to $0.15 is acting as a strong supply zone for the crypto and pushing the price lower.
On the demand side, the $0.10 to $0.11 has been acting as a demand zone and reversing the trend on the higher side as the crypto approaches it.
Currently, the Stellar cryptocurrency has some more room on the downside till the above stated demand zone. The buyers might try to regain control once the price hits the demand zone.
At the time of writing, the RSI was at 39.10 points and that of the 14-SMA line was at 39.16 points. Both the RSI line and SMA line were placed below the mean line indicating weakness over the charts.
Stellar Price Prediction February 2024
The short-term outlook is bearish and might continue to prevail until the price meets a strong support. The bearish view of analysts suggests the price could reach a minimum value of $0.1 by February end.
Stellar Price Prediction 2024
The price forecast for the year 2024 highlights that the XLM token price could reach a high of $0.172, suggesting a potential gain of over 59.11%. On the other hand, the bearish outlook of the analysts is that the price could reach $0.141 by the end of the year.
Stellar Crypto Price Prediction 2025
By the year 2025, the XLM token price may attain $0.255 as the highest price. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $0.189.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
