BREAKING: Stellar gains 15%

1:18 PM January 12, 2021

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

Share:
Back

Trading CFDs on a leveraged basis involves a significant amount of risk. They may not be suitable for everyone, so please ensure you fully understand all of the risks.

Forex and CFDs are leveraged products and can result in losses that exceed your deposits. Please ensure you fully understand all of the risks.

Losses can exceed deposits