Stellar (XLM) Price Prediction for August 16

The weekend has started with a market correction, according to CoinMarketCap.

XLM/USD

The rate of Stellar (XLM) has gone down by 1.19% over the last day.

On the hourly chart, the price of XLM has made a false breakout of the local support of $0.4235. If a bounce back does not happen, the fall may continue to the $0.42 zone tomorrow.

On the bigger time frame, the rate of XLM is within yesterday’s candle. The volume remains low, which means neither bulls nor bears are ready to seize the initiative.

All in all, sideways trading in the narrow range of $0.42-$0.44 is the more likely scenario.

From the midterm point of view, the picture is similar. The price of XLM is far from the key levels, confirming the absence of buyers’ and sellers’ strength. If the situation does not change by the end of the week, increased volatility is unlikely to happen over the next days.

XLM is trading at $0.4266 at press time.

Source