Stellar’s price action recommends that volatility is about to strike back.
Excellent Primed for Volatility
XLM’s market price stopped by 50% after reaching a new yearly high of $0.61 on Feb. 13. The downswing appears to have been fueled by a market-wide correction that caused over $6.5 billion in liquidations.
While some altcoins managed to recuperate the losses incurred, Stellar entered a stagnation duration.
The twelfth-largest cryptocurrency by market capitalization has actually been consolidating over the past 2 weeks, making a series of lower highs and higher lows along the method. When drawing a trendline around each pivot point, XLM’s cost action formed a balanced triangle on its 4-hour chart.