– Stellar is currently in bullish momentum because the price has finally regained its strength
– Bears were unable to take the price down due to major significant demand zone at $0.0728
– Bulls are currently in control of Stellar market, and they may not rest until they push the price towards a major supply zone at $0.1713
Stellar (XLM) Current Statistics
– Market Capitalization: $1,570,734,482
– Trading Volume: $437,988,414
– Major supply zone: $0.1360, $0.1713, $0.2164
– Major demand zone: $0.04714, $0.0205, $0.0100
Latest News around Stellar
In terms of transaction approval, Stellar is very different. It was revealed that Stellar is using a quorum which is just a part of the whole pool instead of using an entire network to validate a transaction. This is what makes Stellar standout and lightening-fast in conducting transactions.
Stellar (XLM) Price Analysis
Stellar could be heading towards a major supply zone at $0.1713 because a robust bullish breakout candle is currently forming, which is a clear direction for an uptrend. Over the past five to six days, the action of the price has been seemingly consolidating inside a bullish continuation candle pattern after a 16% surge correction. Once the current bullish candle reaches maximum consolidation, then, buyers may be eye the primary supply zone at $0.1713.
Chart Indicators Reading:
From the above chart analysis, the Moving Average is pointing to the upside; Buyers could not break the price down due to a significant demand zone at $0.07284, and a bullish flag setup has just been established. For a massive upbeat swing, a daily bullish candle close is expected.
General Outlook for Stellar:
The overall outlook of the Stellar (XLM) is currently bullish, as the sellers could not overcome the major demand zone at $0.0728. Presently, we have “Double Bottom Setup” on daily analysis as a strong signal for bullish resumption.
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