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Stelalr XLM price analysis 15 August 2019; Stellar fails to improve

Stellar XLM price analysis 15 August 2019

Yesterday, the trading session for Stellar ended with a little bit of hope as it bounced back from a major fall due to the whole market introducing a new bearish trend.

Now every Stellar XLM price analysis to be found is indicating yet another bearish trend for alts in the near future as BTC gears up for a massive surge past $14,000 but that is yet to happen. In the short term, Stellar remains in the bearish zone due to low trading volumes and the 7 day MA.

Stellar XLM price analysis

Stellar chart by Trading View

Stellar XLM price analysis: Resistance and Support

Stellar is currently trading at $0.068 at the moment of writing this article but is yet again poised to fall alongside other alts within the day. Although it managed to enjoy a slight uptick from the disaster that was morning 15th of August, there’s still little hope to be had.

The resistance is currently hovering at $0.07 which will most likely be retested today but fail and fall to the following support levels.

The supports can be seen at $0.065 and a further $0.061 which will most likely hold if the coin experiences a further downfall in the next few hours.

But the overall prediction is bearish before Bitcoin can get back on its feet.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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