On August 10, 2019, the Stellar price reached a low of 613 satoshis. An upward move ensued shortly after and the price reached a high of 700 satoshis the next day. After a slight decrease, XLM reached similar highs near 700 satoshis on August 14 and 25.


Stellar Price: Trends and Highlights for August 26
- XLM/BTC is trading inside an ascending triangle.
- There is support at 600 satoshis.
- XLM is trading above the 10- but below the 20-day moving average.
- The MACD has made a bullish cross.
- There is resistance at 750 satoshis.
Long-Term Support
In order to determine the probability that a reversal will begin at the current level, we will take a look at the weekly time-frame.
Current Pattern
A closer look at price movement reveals that the XLM price is trading inside an ascending triangle. The ascending triangle is considered a bullish pattern.
XLM Price Possible Uptrend
In order to determine the likelihood of a breakout, we will incorporate moving averages (MA) and the MACD into the analysis.Resistance Areas
In case a breakout occurs, one resistance area is outlined below.
XLM Price Summary
The XLM price is trading inside an ascending triangle. According to our analysis, it is likely to break out and reach the resistance area outlined above. For trading purposes, we consider XLM a buy, both for the short- and long-term. Do you think the XLM price will break out from the triangle? Let us know in the comments below.Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. Images are courtesy of Shutterstock, TradingView.
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Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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