Stellar Lumens price is down by less than a percentage point. It is also currently extending the past three trading sessions, where it has been aggressively bearish. The past two weeks of Stellar Lumens has been volatile. The volatility, which started on August 5, when prices surged by 4 percent, was followed by a rally that resulted in the crypto rising by 21 percent in 4 days.
However, the Stellar Lumens price surge did not last; by the late hours of the August 8 trading session, the prices had started to come down. In less than 48 hours, XLM had fallen by 12 percent. The aggressive push to the downside was followed by five days of sideways trading which saw prices failing to establish a trend.
However, three days ago, a new trend to the downside started, and today’s drop is a continuation of the trend that has resulted in prices falling by 6 percent. Despite today’s Stellar Lumens price being down by less than a percentage point, the downward move is aggressive enough for prices to close even lower. This is after today’s session started with a price surge of 4 percent before prices started to come down.
Looking at the chart below and putting into consideration what has been happening with the crypto for the past two weeks, my Stellar Lumens price prediction expects the prices to continue going down. There is a high likelihood that the current drop in price will return prices to trading within the support and resistance levels of $0.099 and $0.12, respectively.
For the next few trading sessions, I expect the prices to drop past the $0.1100 price level. There is a high likelihood that, by the end of the month, the prices will have hit the $0.099 support level. My analysis will, however, be invalidated should the prices trade above today’s price high of $0.127.
This post was last modified on Aug 17, 2022, 16:46 BST 16:46