Stellar (XLM) – Searching for the Bottom

Our Stellar (XLM) article about its forecast in February 2019 will mention some Stellar price prediction ranges from various sources as the question whether Stellar will soon find a bottom is a very challenging one.

As of Feb. 3, 2019, Stellar has a price of $0,082543, a 1-year performance of -74.50%, and a year-to-date performance of -$26.51. It has declined from the high price of $0.35 in February 2018 to the low price of $0,082543 and has made a recent top at the price level of $0.12 back in January 2019.

Some key statistics for Stellar as of Sunday, Feb. 3, 2019 are:
· Market Cap: $1.582.140.630 USD, 455.573 BTC
· Volume (24h): $116.923.545 USD, 33.668 BTC
· Rank 9 on CoinMarketCap based on top 100 cryptocurrencies by market capitalization
· Circulating Supply: 19.167.472.059 XLM
· Total Supply: 104.682.543.032 XLM
· 52 Week Low-52 Week High: $0.0824- $0.4798

Stellar price prediction bullish scenario
The weekly chart shows a strong downtrend with not any confirmed signals of trend reversal from a downtrend to an uptrend. The daily chart is also very bearish for the price of Stellar.
We can mention only two positive signals, a positive divergence for MACD and a Stochastics indicator (14,3,3) being in deeply oversold levels, below the level of 20. If price is to bounce, a target would be the level of $0.0970, where there is both strong support, now turned to resistance and a declining 20-day exponential moving average. A higher target would be the upper daily Bollinger band, currently at $0.1123.
Stellar price prediction bearish scenario
The well-known motto in trading ‘do not fight the trend, until it reverses’ is highly applicable to the current trend of Stellar in 2019, a continuation of a very strong downtrend started in 2018. It is very challenging to try and find a potential bottom for the price of Stellar Lumens at these very low levels. But it is just an opinion and not any investment recommendation.

The weekly chart shows a strong downtrend, with not any support levels below the current price of $0.082 as of Feb. 3, 2019. MACD indicator is pointing down, the strength of the trend measured by the ADX/DMI indicator is strong, and the Stochastics indicator is at extreme oversold levels but with not any signs of making a bullish crossover yet.

The daily chart is similar to the weekly chart. The support level of $0.096 which was formed in December 2018 was retested and broken to the downside. With declining 20-day and 50-day exponential moving averages and a strong downtrend, it is very risky to be optimistic about Stellar price at these levels. The odds are in favor of a further downtrend continuation. We cannot find any support level as potential price target, but an estimate would be lower prices near the level of $0.007-$0.06.

The technical analysis for now is very bearish for Stellar and is too risky to predict a bottom. Our Stellar price prediction, just an opinion is therefore that downtrend most probably will continue in February 2019.