- 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.
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.