XLM Price Tries to Recoup Losses as Traders Hope for a big Bounce

As the early Monday morning progresses, it will be interesting to see which crypto markets can recover some losses sustained over the weekend. For the time being, it seems none of the top markets show much interest in moving up again. Even the Stellar price is still down by roughly 2%, even though there are some interesting developments behind the scenes.

Stellar Price Trend Isn’t too Promising

For those people who keep a close eye on the various crypto, token, and asset markets, it quickly becomes apparent there is plenty of exciting momentum behind the scenes of most markets. On the surface, the prices are not necessarily following these developments to a T. Stellar is a good example in that regard. While there are some key partnerships being forged as of late, the XLM value is not responding in kind just yet.

The next balance for the Stellar price is a 1.88% decrease in USD value and a 2.08% loss over Bitcoin. Neither of these trends is particularly worrisome either, but they do confirm the bear market is far from over at this point. While Stellar’s trading volume is also pretty weak, that is to be expected following a rather volatile weekend. The $0.105 price level has not come under any real pressure as of yet, but it remains to be seen if that will remain to be the case for much longer.

It appears a lot of traders have high expectations for XLM moving forward. Nick V sees the current momentum as an opportunity to pocket some gains. While it is commendable to see traders predict a bounce will occur for XLM, these markets often tend to respond in rather funny ways. As such, this trend may not necessarily materialize as expected, although anything remains possible at any given time. For now, it seems likely a small bounce could occur later in the day.

Traders who are not too keen on waiting for any further downtrend or a potential uptrend can always explore arbitrage opportunities. There are two direct arbitrage options to explore. A price gap between either Binance or Kraken and Bitexen can yield speculators a potential profit of up to 1.28%. Not the most spectacular gains by any means, but it seems to be sufficient to make some people look into these options a bit more. All of these exchanges should offer sufficient liquidity to make interesting things happen.

There is also a triangular arbitrage option which can yield a much higher potential profit. More specifically, it would yield a potential profit of up to 95%, although that does require using multiple exchanges and trading pairs. Especially the final step of selling on Bitbns can be of concern, but there are some minor profits to be pocketed along the way as well. XLM is involved in these trades, which shows the price difference between trading platforms are worth keeping an eye on.

For the time being, it remains a bit unclear how all of the top crypto markets will evolve throughout the day. Although Bitcoin seems to be digging itself out of a hole, there is still no decisive course of action to speak of. That usually doesn’t bode well for alternative markets like Stellar, although it seems the losses are being recuperated slowly and steadily. A push to $0.11 is not entirely unlikely, although no one should expect any immediate miracles either.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.