The last one hour indicators for all the coin in the cryptocurrency market at 1:11 PM UTC was seen to be red and the coins like Cardano [ADA] and IOTA [MIOTA] that had a gain till now have gone red. The coin market capital has come down to the $320 levels and now stands at $320.504 billion. The Bitcoin dominance at the time of writing is at 42.2%. Cardano, however, still retains a 9% gain in the last 24 hours. IOTA’s price dipped by 6.59% in the last 24 hours which is the highest in comparison with other major coins. OmiseGO still has a 1.14% gain in the last 24 hours. Today’s market is characterized by high volatility and major changes in the prices.
The sentiment analysis segment gives you the sentiments and opinions of people, including experts, from around the world which are recorded as it is. This segment includes expert opinions of people about the current market trends of various coins. We have carefully structured this segment after taking an interview of a group of investors, miners, skeptics, analysts, influencers, and henceforth recording their valuable comments. This analysis is focused on Stellar Lumens [XLM] which is currently at the 8th spot in the rankings.
Stellar Lumens [XLM]
Stellar Lumens, at 1:26 PM UTC was seen to be trading at $0.275 with a market capitalization of $5.117 billion. Stellar was seen to have crossed the $0.30 mark and it peaked at an intraday high of $0.306 at 1:09 AM UTC before dropping down to a swing low of 0.273 at 1:31 PM UTC which continues to drop. Stellar Lumens hit the $0.30 mark for the first time since the 14th of March. The coin rallied 15.6% on Sunday to end the weekend at $0.294. The coin was seen to have broken the resistance level of $0.295, moving it way up to the $30 mark. The bearish trend that kicked in since the high of $0.281 on the 20th of March and it was broken on the 6th of April after hitting the bottom at $0.185.
Matthew Bailey, an XLM investor from New Castle says:
“A bull run was expected of XLM and the targets were set at $0.338 which is the 0.5 of the Fibonacci level. The coin rose to a profit of 18.23% during the last bull run. The MACD indicators have crossed which signals a major chance in the trend. The RSI is heading towards an oversold position in the four-hour chart of Stellar Lumens.”
Chris Mackellar, an altcoin enthusiast from Genoa says:
“Looks like Stellar is going to linger between $0.26-$0.28 levels for some time as there is no indication for a bullish or a bearish trend. The coin has a selling pressure now and looks like it has gotten exhausted. My personal advise to all the Stelllar investors is to HODL till a bullish reversal happens.”
Gayathri Suthar, a journalist from Jaipur says:
“Stellar sentiments have been weak across the market and a recovery is expected by the community as they feel optimistic looking at how the coin rallied on Sunday. The coin has to depend upon its investors as they should HODL at the present moment to keep the coin in the game. Reports say that if the coin drops below $0.25, then a reversal would be hard unless it goes down further.”
To conclude, 59% of Stellar Lumens respondents feel bullish as the coin had crossed the $0.30 mark after a while and it broke the major resistances revealing its potential. Another 41% of Stellar’s respondents feel bearish looking at the hourly charts of the coin. They feel that $0.25 mark is crucial for the coin and it may be broken.
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