• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / Opinion / Market Analysis / Stellar price analysis: XLM hovers above the critical demand zone
Stellar

Stellar price analysis: XLM hovers above the critical demand zone

August 21, 2019 by Azeez Mustapha

Key Highlights

  • The bears alongside bulls are undecided about the direction of Stellar (XLM) price above the $0.066 demand zone
  • The bulls failed to break the $0.072 demand zone after correction
  • The price of Stellar may fall if the bears continue to test the $0.066 demand zone

Stellar Current Statistics

The current price: $0.067

Market Capitalization: $1,321,259,580

Trading Volume: $100,286,942

Major supply zones: $0.09, $0.1, $0.11

Major demand zones: $0.06, $0.05, $0.04

Stellar Price Analysis August 21, 2019

After the last bearish impulse on August 14, the market had been fluctuating between the levels of $0.066 and the $0.072 demand zones. The bears have failed to reach new lows after the breakdown; this suggests a lack of sellers at the $0.066 demand zone.

On the part of the bulls, there was a price correction, as the market reached the $0.072 demand zone and fell. The bulls could not sustain the bullish move and fail to break the $0.072 demand zone. The Stellar market price has dropped, and it is approaching its low; if the bulls fail to defend the new low, the bears will break the $0.066 demand zone and resume the downtrend.

XLMUSD-Daily Chart August 21, 2019

Chart Indicators Reading

 The MACD is bearish because the signal line and the MACD line are below the zero lines. This indicates that the price of Stellar is bearish. The lines of the moving averages are sloping horizontally in between the $0.066 and the $0.072 demand zones. This indicates that the XLM price is not trending.

General Outlook for XLM

In the last one week, the coin had been trading between the $0.066 and the $0.072 demand zones. The market has fallen to new lows and if the bulls fail to take control of price; the bears may resume the downtrend by breaking the $0.066 demand zone.

Presently, the price of Stellar is below the moving averages (EMAs), which suggest that the coin is falling. If the bearish momentum continues, the market of XLM will reach the next low of $0.065 demand zone. Nevertheless, if we have more buyers and XLM price fluctuates upward and break the $0.072 demand zone, the cryptocurrency’s price will surge upward.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Market Analysis Tagged With: Price Analysis, Stellar (XLM)

Primary Sidebar

Recent Posts

  • Cardano (ADA) Surge: Sharks & Whales Fuel 65% Price Hike In 2023 February 5, 2023
  • Optimism Overtakes Solana In the Crypto Market: The Battle for Supremacy February 5, 2023
  • Shiba Inu’s BONE Rises By 22% Along With New Listing February 5, 2023
  • Whale Alert: Mysterious Bitcoin Transfer Swells Wallet By $313M February 5, 2023
  • Here’s how Ripple CTO Congratulated Elon Musk Over His Victory February 4, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.