Global markets are trading in a rather calm manner today. Volatility on the cryptocurrency markets is limited as well. However, Stellar is an exception.
Cryptocurrency is recovering from yesterday's sell-off and trades around 15% higher at press time. The coin was gaining over 20% at one point today. Rally was launched following a test of the 0.21 zone, that marked an important resistance in November and December 2020. On the other hand, 0.30 area looks to be a strong resistance. Stellar managed to finished daily trading three times above this level but each time a pullback followed.
There was no specific news to justify yesterday's decline but low price and drop of total cryptocurrency market capitalization below $1 trillion for the first time in two weeks was seen by investors as an opportunity.
Stellar gains around 15% today. 0.30 area acts as a support but should bulls manage to bring price above it, 0.40 could be the next target. Source: xStation5
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