Stellar (XLM) Price Analysis (February 26)

Key Highlights

  • XLM/USD price worth has been relatively declining in sequential order.
  • The XLM/USD pair has hit a low value of $0.06000.
  • Caution needs to be exercised if the crypto-market eventually runs in a consolidation moving mode afterward around its major demand zone.

Stellar (XLM) Price Analysis

  • Major supply zones: $0.08000, $0.09000, $0.10000
  • Major demand zones: $0.05000, $0.04000, $0.03000

The XLM/USD price worth has been relatively declining in a sequential order while it could not surge northward past the $0.08000 supply zone on February 19Before the current declining manner, the pair had recorded a line of choppy price movements around $0.07000 mark until February 24-trading sessions.

As at the time of writing, the pair has hit a low value of $0.06000. And that point is going to serve as a vital zone in deciding any further price actions of the XLM/USD trade. But, in the meantime, selling and buying orders may be suspended for a while.

 Stellar Technical Indicators Reading

Since around February 14, the XLM/USD market trend has been in a falling outlook. Around February 24, the 14-day SMA trading indicator attempted to touch the 50-day SMA trend-line from below. But, now, they are separated by a small space. And, they point to the south over the XLM/USD market’s trading zone. The Stochastic Oscillators have gone down in the oversold region to signal potential consolidation moving modes. That suggests a need to exercise some degree of patience in launching a position at this time.

Conclusion

The XLM/USD bearish market trend is now trading around a key technical point at $0.06000. And, the market strength-measuring indicators of Stochastic Oscillators have depicted a tail end for the pair’s current bearish moves. In other words, the XLM/USD market bulls may soon be on a gradual process to gain the crypto-market advantage.


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 (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Ben Jordan
Ben Jordan
Ben began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,478FansLike
2,795FollowersFollow
4,200FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Market Wrap: Bitcoin Never Going to Zero, Philanthropist Giving Away Money to Buy BTC

This week, the price of bitcoin moved, although it continues to trade in a tight range and is still hovering around $9,200 on low...

Bearish Catalysts for Bitcoin Price

This week, Bitcoin is ranging between $9,050 and $9,500. Currently, we are trading just above $9,200 after yesterday, Bitcoin’s price dropped $150 in seconds...

The Good and Bad of the Crypto Going Public

This week, big news came in the form of crypto businesses that are planning to go public either later this year or next year. Crypto...

US Secret Service Has Modernized Its Role in Tackling Financial Crimes in The Crypto Era

The role of the US Secret Service, whose purpose extends from protecting the US President Trump to protecting the US financial systems, has...

Bitcoin is in a ‘Consolidation Zone,' We’ll Move to $14,000 Once BTC Gets Above $10k: Mike Novogratz

Bitcoin is about system change, said Mike Novogratz, CEO of Galaxy Digital, in his latest interview with Barron’s Carleton English. While talking about the catalysts...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today