Stellar (XLM) Price Analysis: XLM/USD is now in trouble

Stellar (XLM) taking another beating on Thursday, down over 2.5% into the second half.
Despite bearish price action, latest finder report sees their crypto panel forecasting a average prediction of $0.28 by 1st January 2019.

Ken Chigbo Independent Analyst

Stellar Lumens were trading down on Thursday of some 2.5%, as the bears turn it up a notch with the pressure to the downside. Support being forced to give way to a fresh wave of new sellers coming to town.

XLM/USD like many of its peers, had formed a bottom area, which was around the $0.1450-0.1350 price territory. Buyers were very much protecting this area with their might, after the stabilizing from the fall throughout November.

Technically, given the above-mentioned breach to the downside, it does leave the door open to greater selling pressure. The next psychological target for XLM/USD would likely be the big 1 cent mark for the bears.

Despite all of this downside, the average price prediction for XLM is seen at $0.28 by 1st Jan 2019, according to the latest finder report, surverying their panel of crypto experts.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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