Will it Hit the $0.15 Price Level?

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The Stel­lar Lumens price has trad­ed side­ways this week, with today’s trad­ing ses­sion drop­ping by a per­cent­age point. Look­ing at its his­tor­i­cal per­for­mance through­out the year, Stel­lar Lumens was down by over 60 per cent at some point. How­ev­er, start­ing in July, the cryp­to start­ed aggres­sive­ly mov­ing upwards, clos­ing the month up 4 per cent.

In August, the push to the upside looks poised to con­tin­ue, with prices already up by 6 per cent. Part of the rea­son for this growth has been the recent recov­ery of the cryp­tocur­ren­cy indus­try. This has seen oth­er alt­coins, such as Stel­lar Lumens, which is pos­i­tive­ly cor­re­lat­ed to the indus­try trend, also start to move up.

The list­ing of the cryp­to in one of the largest exchanges in the world, Robin­hood, has also been a fac­tor that has con­tributed to its cur­rent growth. The list­ing saw Stel­lar Lumens gain more trac­tion with users of the plat­form and also increase trad­ing vol­ume as more users were now able to buy it. 

Stellar Lumens Price Prediction

Today’s stel­lar Lumens drop of less than a per­cent­age point needs to be put into per­spec­tive of the larg­er trend. This is because the long-term trend for the past few weeks has been aggres­sive­ly bull­ish. How­ev­er, on August 8, Stel­lar Lumens set a new month­ly price high of $0.138.

How­ev­er, in the late hours of the ses­sion, the prices start­ed to come down aggres­sive­ly, which saw Stel­lar Lumens close the ses­sion up by only 5 per cent. Since then, the prices have looked bear­ish and trad­ed in what appears to be a side­ways mar­ket. Despite this, my long-term Stel­lar Lumens price pre­dic­tion expects the price to recover.

There is a high like­li­hood that we will see prices mov­ing upwards to trade above this month’s price high of $0.13. It is also like­ly that the next price lev­el will see prices move past the $0.15 price lev­el. How­ev­er, should the prices drop below Wednesday’s price low of $0.119, my bull­ish analy­sis will be inval­i­dat­ed. The move will give cre­dence to an upcom­ing down­ward move.

Stellar Lumens Daily Chart



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