- XLM/USD has been knocked back by resistance heading into $0.50, down 6% on Monday.
- As the bulls are taking a breather, near-term support seen at $0.42 and then $0.36.
The Stellar price is seen down over 6% on Monday, one of the outperformers across the crypto market. General cooling across the market is observed, as there are several key areas of resistance seen for most of the major altcoins.
XLM/USD has been knocked back south, after enjoying a decent run of gains within the recent trading weeks. This could very well be a mild form of consolidation, ahead of the continued firm move to the upside, as bulls are proving a trend change.
Technically, XLM/USD attempted to break down the early $0.50 area, the last time traded here was back on 24th January. As the bulls are taking a slight breather from the recent run, near-term support is seen at $0.42, then $0.36.
XLM/USD daily chart
Follow us on Telegram
Stay updated of all the news
Will Dogecoin (DOGE) price pull an XRP and rally 60% next week?
Dogecoin price has been in a tight range bound movement since November 22. However, the recent recovery above the range low looks promising and hints at an explosive move for next week.
SEC Chair Gary Gensler’s latest call signals tough times ahead for crypto players
US Securities and Exchange Commission (SEC) chair, Gary Gensler, has hinted at tough times ahead for crypto players. In his testimony before the House Appropriations Subcommittee on Financial Service and General Government, Gensler advocated for additional infrastructure.
Crypto firms' de-banking escalates as banks reject applications due to liquidity and regulatory concerns
The crypto market has been facing hurdle after hurdle since Q2 2022 when Three Arrows Capital collapsed, which worsened in November 2022 following the bankruptcy of FTX. This led to a number of crypto companies falling.
Making a case for Binance Bicasso NFTs playing catalyst to BNB price recovery, $357 incoming?
BNB price is up three days in a row despite the legal tussle between the largest exchange by trading volume, its CEO Changpeng Zhao (CZ), and the Commodity Futures Trading Commission (CFTC).
Bitcoin: Should you trust this BTC sell signal or wait for $34,000?
Bitcoin price shows a clear picture of its rally after it breached a long-term bullish pattern in mid-January. As the rally takes a breather, sell signs have started to emerge, which is putting investors in a confused state.