Stellar Lumens (XLM), currently ranked in at #8 among cryptocurrencies by market cap, is one of the most popular and rapidly rising names of recent times. The currency has been on a downward trend, but this does not worry the backers and investors much, as a strong uptrend is believed to be on its way, which will help Stellar prices surge once again. Let us take a closer look at the price and performance of Stellar -
Stellar began the day at a price of $0.385 and slipped down to $0.355. At this point of time, the market cap of the currency stands at $6.5 Billion. However, despite the drops and price loss, investors aren't really worried. Stellar has shown in the past that it has a tremendous potential to bounce back from dips. Moreover, another reason that this dip in the Stellar prices isn't really worrying is because of the fact that it's not an isolated incident but the entire markets are on a downtrend.
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Expected movement of Stellar Lumens price | Image; Tradingview[/caption]
Market experts from tradingview believe that Stellar is poised for a strong growth soon. A look at the graph above shows that the currency may even drop down to a low of $0.29 before it finally sets foot towards the uptrend. If this uptrend continues as expected, Stellar price would soon reach $0.70 over the next three weeks.
There is bearish line of resistance that the currency will face again at the $0.38 mark. However, if the bulls consider this to be a good time to rush into the markets, it would lead to the price surging and entering the uptrend. The currency has done this in the past too and it looks like Stellar Lumens will boom once again!
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