Yesterday, the price of XLM fell by more than 20%, serving as a stark warning of the dangers of cryptocurrency investing, particularly when major support, such as the May 23 low, is suddenly eroded. Stellar bulls, on the other hand, have entered the market today, boosting the cryptocurrency from its early lows and possibly forming a doji candlestick pattern on the daily chart. Although this is a positive trend, the XLM price still has a long way to go before the nightmare is over.
On June 15, MATIC price broke out of a symmetrical triangle, indicating that the relative strength vs the cryptocurrency market will continue. The optimistic price movement, however, swiftly evaporated, and Polygon investors were rewarded with a 43 percent drop in the previous seven trading days.
On June 18, the Dogecoin price finally broke free of a complex, rounded consolidation, causing DOGE to drop 50% in five days to its current low. The continued, successful comeback from the 200-day SMA is a positive sign, but it is still struggling to reclaim the $0.195 intra-day low. Investors should stay away from the meme token until it can close above its May low.
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Yesterday, the price of XLM fell by more than 20%, serving as a stark warning of the dangers of cryptocurrency investing, particularly when major support, such as the May 23 low, is suddenly eroded. Stellar bulls, on the other hand, have entered the market today, boosting the cryptocurrency from its early lows and possibly forming a doji candlestick pattern on the daily chart. Although this is a positive trend, the XLM price still has a long way to go before the nightmare is over.
On June 15, MATIC price broke out of a symmetrical triangle, indicating that the relative strength vs the cryptocurrency market will continue. The optimistic price movement, however, swiftly evaporated, and Polygon investors were rewarded with a 43 percent drop in the previous seven trading days.
On June 18, the Dogecoin price finally broke free of a complex, rounded consolidation, causing DOGE to drop 50% in five days to its current low. The continued, successful comeback from the 200-day SMA is a positive sign, but it is still struggling to reclaim the $0.195 intra-day low. Investors should stay away from the meme token until it can close above its May low.
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