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Trade99’s XLM Price Analysis: Stellar Exhibits Declining Momentum

Stellar’s initial gain of this month has brought frequent price corrections. Over the last 24 hours, the value has gone through another correction of a marginal decline. Though the change seems a minuscule amount, the intraday volatility has shocked all its investors.

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XLM coin was trading at $0.052404 at the opening of the day, and over the next 51 minutes, it gathered momentum to find itself at $0.054883 by 4.73% hike. It was followed by a 5.91% fall that took the Stellar price to $0.051641 by 05:12 UTC. This was the lowest point for the currency throughout the day.

However, XLM price soon started strengthening, and in the next 8 hours, it got jacked up by as high as 9.66% to touch the ace point of the day at $0.056630. The last swing happened between 13:51 & 02:58 UTC. In these 13 hours, Stellar price reduced by a whopping 7.44%, and the coin reached $0.052416.

Stellar’s both 50 days MA ($0.052768) and 20 days MA ($0.052632) have managed decent lead above the current value. As per Trade99’s analysts, XLM coin’s struggle may get intensified in the coming days. It may stumble upon the next support at $0.052064 by this weekend.

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