Altcoins News
By Dan Saada
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The cryptocurrency market has recently been under significant selling pressure, resulting in nearly $495 million in liquidations.
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For Stellar, the $0.55 price point has been a critical resistance level since 2018, and it has proven to be a formidable barrier.
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When resistance levels like the $0.55 mark are reached, they often create sell walls—large amounts of sell orders placed at specific price points.
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In December 2024, XLM saw a brief surge, but the price faced a hard sell-off at the $0.55 resistance.
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The broader cryptocurrency market has also been under pressure, with Bitcoin (BTC) falling below $86,000 and Ethereum (ETH) dropping 2.95% to trade near $2,128.
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According to CoinGlass data, these market declines have led to substantial liquidations, with $493 million in leveraged positions wiped out.
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Stellar’s struggle with the $0.55 resistance, combined with the broader market’s bearish momentum, presents a challenging situation for XLM.
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Overall, the outlook for Stellar remains mixed. The asset continues to face significant resistance at $0.
The Currency Analytics
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