The price of XLM from Stellar 2018 faces resistance as the market separates 495 million dollars
Since the broader encryption market faces renewable sales pressure, analysts enlarge the various encryption assets to determine their price expectations.
In the case of the star (XLM), which has decreased by 8 % in the past 24 hours to 0.276 dollars, it seems that the upcoming expectations are reduced because encryption assets face invisible resistance dating back to 2018.
according to onStellar (XLM) is a large barrier to resistance at $ 0.55, a major level that has been withstood since 2018.
The walls of sales can create obstacles to price pools, as the participants in the market realize the psychological and historical importance of the level, which requires strategic accumulation by their large owners or strong market incentives to overcome them.
Related
XLM returned in early December 2024 by selling at a mark of $ 0.55, after which Stellar refused to trade in a domain.
Stellar fell to the bottom end of this range after losing daily SMA 50 at 0.351 dollars in late January, and now circulates between its daily moving averages of 50 and 200 at 0.355 dollars and $ 0.26.
The encryption market sees the sale
The cryptocurrencies extended their sale to Saturday, as Bitcoin (BTC) decreased to less than 86,000 dollars, as merchants considered the total economy fears and that the long -awaited encryption summit on Friday did not result in a major announcement of the encrypted currencies.
Related
Bitcoin decreased for the second day, as it decreased by 3.38 % in the early Saturday session. Altcoins has witnessed much larger decreases during the same period, with all encryption assets at the top of 100 stablecoins in red.
ETHEREUM (ETH) was traded near $ 2,128 and decreased by 2.95 %; XRP, such as XLM, decreased by 8 %, while Solana (SOL), Dogoin (DOGE), Cardano’s Ada and ChainLink link all lost 4 % to 10 %.
The decreases led to nearly $ 493 million in the qualifiers for derivative trading in all encryption assets, according to Coinglass data; 317 million dollars were filtered from the upscale bets during the time frame, while $ 154 million was eliminated from short positions.
