• 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 forecast: XLM in the green but bearish pressure can resume
Stellar

Stellar price forecast: XLM in the green but bearish pressure can resume

August 5, 2019 by Azeez Mustapha

Key Highlights

  • XLM/USD pair might continue to range
  • Stellar (XLM)’s market can further depreciate to the demand zones at $0.07 and 0.06
  • On the other hand, a rise in price is expected if further downwards movement is rejected

Current Stellar (XLM) Statistics

The current price: $0.082

Market Capitalization: $1,619,277,450

Trading Volume: $77,789,110

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

Major demand zones: $0.07, $0.06, $0.05

Stellar Price Analysis August 5, 2019

The price of Stellar was on a range-bound above the demand level. The price of Stellar is characterized by small candlesticks like the Doji and Spinning tops which describe the indecision between buyers and sellers at the current market price. The price will continue to range below the supply zones as long as the small body candlestick dominate the chart.

However, the market is below the supply zones which indicate that price is likely to fall. On the downside, in case the price falls, the market will reach the previous lows at the demand zones of 0.07 and 0.06. On the upside, if the bulls break above the $0.09 price level, XLMUSD will rise and retest the $0.1300 and $0.1400 price levels.

Stellar XLM technical price chart

 

Chart Indicators Reading

XLM market has reached the oversold region of the daily Stochastic but below 20% range. This indicates that price is still in a bearish momentum and a sell signal is likely. From the daily chart, if the bulls break the upper trend line, the crypto’s price is likely to rise and retest the supply zones.

On the other hand, if the bearish trend continues and breaks the lower trend line, the coin will further depreciate to demand zones. The 12-day EMA and the 26-day EMA are trending pointing southward.

General Outlook for XLM/USD pair

Even after today’s rise in the price, Stellar can still turn bearish and get weak. The market may further depreciate because the indicators in the chart are signaling further selling pressure. The  Exponential Moving Averages are trending southward, indicating that price is likely to fall.

Generally, the outlook for Stellar is bearish at the movement, unless the situation changes, owing to any unexpected fundamental factors. Let’s see if the current Stellar price rally has got some legs or it will reverse soon.

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

  • Ethereum Powers Premier League’s Teamup with Sorare For Digital Player Cards In Fantasy Sports February 1, 2023
  • Bitcoin Boom: $117M Influx Brings Investors Back To Digital Asset Market January 31, 2023
  • Bitcoin Best Month: 43% YTD Price Increase Amid Short Squeezes January 31, 2023
  • Binance And Mastercard Join Forces To Launch Crypto Card In Brazil January 31, 2023
  • XRP: Web3 Domain Provider Unstoppable Domain Adds Support For XRP Toolkit January 31, 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.