The Stellar price (XLM/USD) has managed to bounce back after falling to a four-day low on Tuesday.
The sixth-largest digital currency on the market finished last week with an impressive daily rally that allowed its price to revisit the $0.30 for the first time in nearly eight weeks. However, at the start of this week the coin fell into a market-wide corrective trend that erased its previous gains. Stellar’s decline reached its culmination on Tuesday afternoon, when the coin fell to an intraday low of $0.233, which was below its Sunday opening price of $0.239. However, Stellar was able to bounce back in the final hours of the session to secure a close above the $0.25 mark. The coin finished the day at $0.252, down from its opening level of $0.258.
After experiencing another drop below the $0.24 mark during the early hours of today’s trading, the coin has managed to get back on the right track, though it has continued to experience minor drops throughout the session. At the time of writing, the Stellar price was hovering around $0.225, according to data from digital currency tracker Coinmarketcap. Apart from Ripple, which has gained more than 20% over the past 24 hours, Stellar is currently the best performing coin in the crypto top 10.
However, Stellar’s rally hasn’t been supported by strong trading volume. Recent market data shows that some $107.8 million worth of XLM tokens have exchanged hands over the past 24 hours, which is lower than the coin’s daily volumes on Tuesday and Monday. In contrast, Stellar’s Sunday rally translated into daily trading volume of $317.5 million – the highest in more than eight months.
In today’s trading, the Stellar price stood at $0.255, as of 16:15 BST. Thecoin has gained 6.8% over the past 24 hours, Coinmarketcap data shows.