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Stellar (XLM) has been experiencing a decline in price performance, similar to XRP, reflecting the current bearish sentiment in the cryptocurrency market. In July, Stellar consolidated its gains and established a strong support level at $0.13. This breakthrough was significant as it surpassed a major hindrance.

To gain insights into the future price dynamics of XLM, Finbold utilized machine learning algorithms from PricePredictions. According to their predictive models as of August 8, it is anticipated that the value of Stellar will stabilize at $0.137 by the end of August 31. This forecast suggests a marginal price fluctuation of approximately 1.5% compared to the current market valuation.

The prediction is based on various technical indicators, including the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more.

Currently, Stellar is valued at $0.139, reflecting a 0.6% increase in the past 24 hours. However, over the last week, the digital asset has seen a decline of more than 5.4%.

Stellar has a strong support level at $0.13096, indicating a strategic price point for buyers. On the other hand, it faces a resistance level at $0.15168, where selling pressure may impede significant upward movement.

In the last 30 days, XLM has only had 14 days of positive price movement. It has a 24-hour trading volume of $289.04 million, a market cap of $3.79 billion, and a market dominance of 0.32%.

It is important to note that this content should not be considered investment advice as investing in cryptocurrencies is speculative and carries risks.