Key Highlights
- The bear’s effort to flush down the Stellar (XLM) price far below the major significant zone at $0.074 finally proved abortive; this is because the area is well-defended by the bulls.
- The market analysis has shown that the buyers have positioned themselves well to turn the table around against the sellers and drag the price to the next major supply at $0.17.
XLM Current Statistics
Current market price: $0.087
Market Capitalization: $1,695,688,458
Trading Volume: $144,372,195
Major supply zones: $0.17, $0.33 $0.52
Major demand zones: $0.05 $0.02 $0.01
Latest Stellar News
Not too long ago, the biggest cryptocurrency exchange, Binance announced its support to takeover Stellar Lumens Coin (XLM). The company has launched an initial stake reward campaign worth over $775,000. The exchange tweeted and asked the XLM users to start sending their Tokens directly to their Binance account from anywhere to be able to receive the rewards automatically.
Stellar (XLM) Price Analysis July 25, 2019
It appears that the major demand zone retest has completed for Stellar, and the sellers could not break the market to the downside any further now.
This is simply because the bulls massively entered into the negotiation with the bears, and the sellers could not fulfill the final decision of the market.
Chart Indicators Reading
Technically, the XLMUSD analysis shows that the bears are already taking their profits, and most of them are joining forces with available buyers to make a new investment buy decision. The trading indicators and tools are currently supporting that the price is long overdue to go up and if this is valid as depicted on the above analysis, therefore, we may see massive bullish divergence within the next trading days.
General Outlook for XLM
As things stand, the overall market outlook of Stellar (XLM) is very bullish. This is simply because the bears have not broken the significant demand zone located at $0.074. And as long as this zone remains active and robust, the market trend is expected to go up towards the next desired supply zone at $0.17.
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.
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