Will Prices Fall Below $0.1

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Despite start­ing strong­ly in today’s trad­ing ses­sion, Stel­lar Lumens price action has resumed an aggres­sive push to the downside. 

In the ear­ly morn­ing of the trad­ing ses­sion, Stel­lar Lumens was up by 2 per cent after show­ing strong signs of an aggres­sive bull­ish move. The trend would have put an end to the past two days that had result­ed in prices drop­ping by 5 per cent. How­ev­er, as the ses­sion pro­gressed, the intra­day trad­ing of the cryp­to has result­ed in Stel­lar Lumens prices con­tin­u­ing to fall, and at press time, it is trad­ing at 0.5 per cent above its open­ing price. 

Since its found­ing, Stel­lar Lumens has con­tin­ued to grow in trac­tion due to its dig­i­tal cur­ren­cy to fiat mon­ey func­tion­al­i­ty. In addi­tion, the project has grown in the cryp­tocur­ren­cy com­mu­ni­ty because it is a decen­tral­ized pro­to­col that allows for low-cost trans­fers and cross-bor­der trans­ac­tions between any pair of currencies. 

The gain in trac­tion and its usabil­i­ty has allowed it to become of the largest cryp­tocur­ren­cy projects in the world, with a mar­ket cap­i­tal­iza­tion of $2.8 bil­lion. The project is also ranked as the 28 largest cryp­tocur­ren­cies based on the mar­ket cap­i­tal­iza­tion rank­ing system. 

Stellar Lumens Price Prediction

Hav­ing looked at what hap­pened dur­ing the cur­rent session’s intra­day trad­ing, it is clear that, despite the ear­ly morn­ing hours’ aggres­sive push to the upside, Stel­lar Lumens price trend is to the downside. 

I expect the price to con­tin­ue falling in the next few trad­ing ses­sions. We are high­ly like­ly to see the prices falling below the $0.1 price lev­el in the next few trad­ing ses­sions. The cur­rent push to the down­side may also be dri­ven by the cur­rent bear mar­ket of the cryp­tocur­ren­cy industry. 

How­ev­er, should the price trade above the $0.118 resis­tance lev­el, then my analy­sis will be inval­i­dat­ed. It will also mean a pos­si­ble push to the upside.

Stellar Lumens Daily Chart

Stellar lumens price prediction



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