Bitpanda adds support for Stellar (XLM): Price reacts with a slump

Bitpanda has announced that it will be adding Stellar (XLM) to its list of tradable instruments before the end of the day on Thursday. The exchange has recently listed Augur (REP) to the platform and Stellar. Moreover, the decentralized exchange is still expanding its portfolio with another schedule listing, OX (ZRX).

The exchange has experienced technical glitches with the listing on non ERC20 digital assets, for instance, Ripple (XRP) as well as Komodo (KMD). However, listing Stellar means that it has probably worked through the technical.

Stellar price analysis

Stellar price, after correcting slightly higher on the day, had engaged reverse gears and is currently seeking support at the 38.2% fib level with the last high leg at $0.209 and a low of $0.1934 at $0.1996. The price has been retracing higher trading higher lows and higher highs, but the bear pressure in the market has kept it below $0.21.

At the time of writing, Stellar price has bounced off the above support, besides, the buyers have their eyes on $0.204 in the short-term. Both the 61.8% Fib level and the 100 simple moving average will stand in the way corrections around $0.2034. The stochastic is in the oversold, which also means that the bears are exhausted giving the buyers a chance to enter. The 50 SMA has crossed above the 100 SMA to show that buying power is rising.

XLM/USD 15’ chart