Stellar or XLM is in major trouble as it fights for its life in the crypto world.
If Bitcoin, Ethereum crashes - the alt market does tend to follow similar to major stock indices versus minor.
And there is no exception for this.
Now there are a few other reasons for Stallars downside to come including:
💥 1. Crypto Market Crash
A broader sell-off across crypto markets has dragged Stellar down with it.
📉 2. Lack of Developer Activity
Stellar is facing declining interest from developers compared to rival platforms.
💰 3. Investors Moving to Bigger Coins
Investors are shifting funds to Bitcoin and Ethereum for perceived stability.
🚫 4. Partnerships Falling Through
Several high-profile partnerships have quietly ended or stalled.
🧊 5. Low Community Engagement
Social media buzz and community activity around Stellar have hit new lows.
Here are basic technicals.
M Formation broke downn
Price below 20MA
First target to 200MA
Next to $0.135
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
If Bitcoin, Ethereum crashes - the alt market does tend to follow similar to major stock indices versus minor.
And there is no exception for this.
Now there are a few other reasons for Stallars downside to come including:
💥 1. Crypto Market Crash
A broader sell-off across crypto markets has dragged Stellar down with it.
📉 2. Lack of Developer Activity
Stellar is facing declining interest from developers compared to rival platforms.
💰 3. Investors Moving to Bigger Coins
Investors are shifting funds to Bitcoin and Ethereum for perceived stability.
🚫 4. Partnerships Falling Through
Several high-profile partnerships have quietly ended or stalled.
🧊 5. Low Community Engagement
Social media buzz and community activity around Stellar have hit new lows.
Here are basic technicals.
M Formation broke downn
Price below 20MA
First target to 200MA
Next to $0.135
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.