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
This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.