Despite succeeding in breaking above the $0.13 price mark, noted to be one of its resistance levels to consolidate at a dependable support level in mid-July, XLM appeared to be caught up in the web of the bearish market trend in August, printing similar indexes and market trends to fellow altcoin, XRP.
In the wake of the growing bearish sentiment that seems likely to persist longer than usual and in a bid to clear some of the uncertainties associated with Stellar price dynamics, crypto enthusiasts, especially XLM holders, consulted machine learning algorithms’ perspectives on XLM’s potential price by the end of August 2023.
Machine Learning Algorithms Give Insight On Stellar Lumens Price.
Per machine learning models, XLM might just be witnessing a meager price ascent to a potential $0.137 price level, implying an increase of about 1.5%, considering the prevailing market conditions and other factors.
It is worth mentioning that the machine language algorithms are dependable price prediction tools of the crypto authority site, PricePredictions, and are renowned for taking cognizance of significant key indices and other technical indicators like Bollinger Bands (BB), Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), etc.
Recall in one of our previous reports, Google Bard, an Artificial Intelligence (AI) model by Alphabet, gave insight into XLM’s potential price pattern following Ripple’s win against the United States Securities and Exchange Commission (SEC).
Bard noted that XLM might have witnessed several price declines but has somehow, managed to remain afloat by staying at its pre-ruling levels with further chances of having more adoptions from top firms that would culminate in spiking the coin’s price.
Notedly, Ripple is the primary distributor of XRP, and XLM appears to be following XRP price patterns, which could be because both digital assets are altcoins focused on overseeing cross-border payments.
Read Also: Here’s What ChatGPT Said About Possible Stellar (XLM) Price Trend By End of 2023
XLM Price Analysis And Market Indices
Per CoinGecko, XLM price at press time is $0.141781, reflecting a surge of 0.7%. XLM 24-hour trading is worth about $114,705,863, with a market cap estimated to be valued at around $3,875,821,880.
Notably, Stellar Lumen boasts strong support stationed at the $0.13096, a price level where the option or choice to purchase appears to dominate, therefore removing the possibility of an extended downward shift.
On the other hand, the resistance stratum was pegged at $0.15168, indicating an increased probability to sell than to purchase.
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