XLM price could not escape yesterday’s selling pressure and collapsed below the May 19 crash low before rebounding back above the strategically important 200-day simple moving average (SMA). Based on prices from Coinbase, it was the largest weekly decline since August 2014 at -48.90%. The channel’s lower trend line and the 200-day SMA likely to keep Stellar range bound for the foreseeable future.
Ethereum price has catapulted almost 27% today after closing last week with the most significant weekly loss since trading began. At the time of writing, the 27% gain would be the largest one-day gain since December 12, 2017. There is a high probability that ETH has printed the correction low and has shifted to building a new base for a test of the all-time highs.
MATIC price suffered a 74% decline from the May 19 high to yesterday’s low, putting the digital token among the biggest decliners during last week’s crypto crash. Yet, the significant decline has not undermined the solid technical structure of the charts and still asserts Polygon to be one of the leaders for the next leg higher in the cryptocurrency complex.
