Stellar Network: Contagion from FTX Collapse Pushes XLM Price to 2-Year Low

Stellar (XLM) holders witnessed massive losses as cryptocurrency markets continued to deleverage.  The post Stellar Network: Contagion from FTX Collapse Pushes XLM Price to 2-Year Low appeared first on BeInCrypto.

Timeline of Stellar

Stellar lumen price started a fresh decline from the $0.1165 resistance zone against the US Dollar. XLM price is now trading below $0.1110 and the 55 simple moving average (4-hours).

Stellar enables real-time transactions to occur anywhere in the world in as little as five seconds. XLM is listed on a number of crypto exchanges including Binance, eToro, Huobi Global, CoinTiger, FTX, and OKEx.

Stellar (XLM), the 27th ranked cryptocurrency in terms of market capitalization, managed to pump its spot trading price by 2.1% over the last 24 hours. At press time, according to tracking from Coingecko, the asset is changing hands at $0.112 and has been down by 3.3% and 4.4% on is biweekly and monthly charts, respectively.

A chart pattern for Stellar shows a drop to $0.1 could commence soon Market structure and momentum have also been in favor of the sellers recently Stellar saw an abrupt rejection at the $0.

Stellar lumen price started a fresh decline from the $0.1165 resistance zone against the US Dollar. XLM price is now trading below $0.1120 and the 55 simple moving average (4-hours).

Stellar is one of the top platforms for making global money transactions faster and easier today. It is built around a decentralized on-chain protocol. Lumens (XLM), its native cryptocurrency, serves as the transaction fee.

The Stellar (XLM) price has been moving sideways for months, but technical developments have placed it on some analysts' buy lists. The post Stellar (XLM) Price Prediction: Why This Renowned Analyst Went Long appeared first on BeInCrypto.

Stellar lumen price started a fresh decline from the $0.1300 resistance zone against the US Dollar. XLM price is now trading below $0.1200 and the 55 simple moving average (4-hours).

Stellar is one of the cryptocurrencies that had an interesting and fruitful 2021, perhaps why the altcoin is making positive noise these days for being a viable asset for long trading. Stellar could enter a dull phase on the coming sessions XLM is -10.1% over the past week Stellar is on an extended bearish momentum In crypto space, long trading involves buying an asset and making profit as its price increase.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. XLM reversed from its long-term trendline resistance to induce a patterned break.