{"id":23992,"date":"2023-10-13T16:27:43","date_gmt":"2023-10-13T16:27:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/could-key-stellar-news-help-stem-bearish-flip\/"},"modified":"2023-10-13T16:27:43","modified_gmt":"2023-10-13T16:27:43","slug":"could-key-stellar-news-help-stem-bearish-flip","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/could-key-stellar-news-help-stem-bearish-flip\/","title":{"rendered":"could key Stellar news help stem bearish flip?"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1697212335076-5ab074eb-7291-47d0-bc76-c4d87df7212c-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1697212335076-5ab074eb-7291-47d0-bc76-c4d87df7212c-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1697212335076-5ab074eb-7291-47d0-bc76-c4d87df7212c-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1697212335076-5ab074eb-7291-47d0-bc76-c4d87df7212c-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Stellar (XLM) price was changing hands around $0.10 on Friday, down 7% and 15% in the past 7 and 30 days respectively.\u00a0<\/li>\n<li dir=\"ltr\">The Stellar Development Foundation has teamed up with Certora to boost security for Soroban.<\/li>\n<\/ul>\n<p dir=\"ltr\">Stellar (XLM) price traded around $0.10 on Friday morning, positive by about 1.3% in the past 24 hours but -7% and -15% in the past seven and 30 days respectively. The downward trend that has held since the flip from highs of $0.20 on July 13 could now strengthen after XLM broke below the support line of a descending triangle pattern.<\/p>\n<h2 dir=\"ltr\">Stellar price gives up key support area<\/h2>\n<p dir=\"ltr\">Today\u2019s slight upside comes after <a href=\"https:\/\/coinjournal.net\/news\/tag\/stellar\/\">Stellar news<\/a> regarding its Soroban, a WebAssembly (WASM)-powered smart contracts platform. The Stellar Development Foundation has teamed up with smart contracts audit platform Certora to boost ecosystem security for Soroban.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Product update! Today, <a href=\"https:\/\/twitter.com\/CertoraInc?ref_src=twsrc%5Etfw\">@CertoraInc<\/a> &amp; <a href=\"https:\/\/twitter.com\/StellarOrg?ref_src=twsrc%5Etfw\">@StellarOrg<\/a> have teamed up to boost <a href=\"https:\/\/twitter.com\/SorobanOfficial?ref_src=twsrc%5Etfw\">@SorobanOfficial<\/a>, the Stellar network&#8217;s smart contract platform, with cutting-edge formal security verification. <\/p>\n<p>Why is this important? It fortifies the foundation of blockchain security, ensuring trust\u2026<\/p>\n<p>\u2014 Stellar (@StellarOrg) <a href=\"https:\/\/twitter.com\/StellarOrg\/status\/1712142555557880172?ref_src=twsrc%5Etfw\">October 11, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Stellar announced <a href=\"https:\/\/coinjournal.net\/news\/stellar-announces-testnet-for-protocol-20-upgrade\/\"><u>a testnet for the smart contracts platform in September<\/u><\/a>. While the development coincided with a spike to above $0.12 for XLM, the overall picture since has been one of struggle for bulls.<\/p>\n<p dir=\"ltr\">As can be seen on the daily chart below, the XLM price has failed to decisively break above the downtrend resistance line of a descending triangle since July\u2019s downward flip. The bearish outlook remains and could strengthen as bulls struggle to keep prices above $0.10.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 600px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/09\/13\/1697210691917-49d17fa2-ed82-4f7f-88bf-4bbb55ad7d1f.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\" width=\"600\" height=\"260\"\/><span class=\"fr-inner\">Stellar price chart. Source:\u00a0<a href=\"https:\/\/www.tradingview.com\/x\/HUj6n1fy\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">While the $0.11 area is now the new supply zone, sellers taking control beneath this horizontal line has them eyeing the potential dip to $0.09 and even $0.07. The technical picture on the chart has both the daily RSI and MACD suggesting sellers hold the advantage.<\/p>\n<\/div>\n<h2 dir=\"ltr\">Can bulls retake control?<\/h2>\n<p dir=\"ltr\">XLM price will need to see a sustained push from current levels towards the descending trendline and possibly break higher to flip bullish. \u00a0If XLM breaks above $0.13, buyers might target the immediate term supply wall around $0.16.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/xlm-price-could-key-stellar-news-help-stem-bearish-flip\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Stellar (XLM) price was changing hands around $0.10 on Friday, down 7% and 15% in the past 7 and 30 days respectively.\u00a0 The Stellar Development Foundation has teamed up with Certora to boost security for Soroban. Stellar (XLM) price traded around $0.10 on [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23992"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23992"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23993"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}