Stellar (XLM) live on UAE’s BitOasis: XLM/USD begins recovery
|- Stellar now supported on BitOasis; 0% trading fee lasts until November 27.
- Stellar revamps the trend after hitting the bottom around $0.19; $0.25 is within reach.
The modern city of Dubai is home to one of the fast growing cryptocurrency exchanges, BitOsis. The exchange transcends several geographical regions to serve customers in the Middle East as well as North Africa. The exchange has today added support for the 4th largest token, Stellar Lumen (XLM). The trading has already begun and customers are being treated with a 0% trading fee from today to November 27.
Stellar price technical picture
Stellar has been deteriorating in value since last week. Like many other assets, Stellar almost hit the yearly low trading below $0.19. Following a weekend of nursing wounds and consolidation. This week started with declines and Stellar was not left behind. The asset hit lower lows and lower highs within a descending channel.
The initial support for Stellar is highlighted by the 100 SMA currently at 0.201 (hourly range). The second support is seen at $0.20 while the base support is at $0.19. Stellar has resumed the bullish trend and is making headway above the channel resistance. The 200 SMA on the same range will limit movement at $0.21. The first resistance is at $0.22 (seller concentration level while the next resistance is at $0.24 (upper supply zone). A sustained growth above $0.25 could see Stellar retest the levels around $0.28 and eventually brush shoulders with $0.3.
XLM/USD 15’ chart
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