The encryption market in the early trading session of Monday after the rise of Sunday, with almost all major encrypted currencies, including, including Star (xlm)Trading in red. Bitcoin rose towards its high signs, reaching $ 107137 early on Monday. The Crypto Lead Asset assets rose above $ 106,000 on Sunday for the first time since January, while other major currencies showed greater daily gains.
Stellar (XLM) also benefited from the height, reaching levels higher than $ 0.297 on Sunday after a four -day decrease, before it flowed early on Monday.
Work on the market was caught early in the two bulls and warning. The unexpected price fluctuation has wiped more than $ 465 million in long positions and $ 203 million in short pants, with a total of $ 669 million through various encryption assets, for all Coinglass data.
At the time of the press, Stellar (XLM) has decreased by 3.49 % in the past 24 hours to $ 0.2814 and 10.87 % per week. Trading volume increases 24 hours in Stellar, where traders seek to benefit from market fluctuations, an increase of 88.83 % to $ 270 million per Coinmarkcap data.
XLM faces short -term risks
Since the cryptocurrency market is tested by pressure, Stellar (XLM) is close to the main support test, with the next decisive step.
According to the encryption analyst on , XLM should retain $ 0.27 to avoid a more severe correction. The decrease in this main support may lead to a 14 % possible decrease, leading to a decrease in the price to about $ 0.23.
In a modern post on X. “The Stars (XLM) warned a contract of $ 0.27 to avoid correction 14 % to $ 0.23.”
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It is now trading at $ 0.281, XLM has touched its lowest level between $ 0.276 in the Monday session early, indicating that the bulls are actively defending $ 0.27 to make more declines. If this is sustainable, XLM may aim to re -test daily SMA 200 at $ 0.323 before the May 12 height at $ 0.334.
On the other hand, the increase in sale pressure may aim to a decrease towards $ 0.266 in Daily SMA 50 before $ 0.23.
