Foundation

Stellar

<div class="coinjournal">
 <ul>
  <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.&nbsp;</li>
  <li dir="ltr">The Stellar Development Foundation has teamed up with Certora to boost security for Soroban.</li>
 </ul>
 <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>
 <h2 dir="ltr" id="stellar-price-gives-up-key-support-area">Stellar price gives up key support area</h2>
 <p dir="ltr">Today’s slight upside comes after Stellar news 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.&nbsp;</p>
 <p dir="ltr"></p>
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
  <p lang="en" dir="ltr">Product update! Today, @CertoraInc &amp; @StellarOrg have teamed up to boost @SorobanOfficial, the Stellar network's smart contract platform, with cutting-edge formal security verification.</p>
  <p>Why is this important? It fortifies the foundation of blockchain security, ensuring trust…</p>
  <p>— Stellar (@StellarOrg) October 11, 2023</p>
 </blockquote>
 <p></p>
 <p dir="ltr"><a rel="noopener noreferrer nofollow" title="Stellar" href="https://thebittimes.com/tag/stellar.html">Stellar</a> announced <u>a testnet for the smart contracts platform in September</u>. While the development coincided with a spike to above $0.12 for <a rel="noopener noreferrer nofollow" title="XLM" href="https://thebittimes.com/tag/xlm.html">XLM</a>, the overall picture since has been one of struggle for bulls.</p>
 <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’s downward flip. The bearish outlook remains and could strengthen as bulls struggle to keep prices above $0.10.</p>
 <div class="fr-img-space-wrap"><span class="fr-img-caption fr-fic fr-dib fr-draggable" style="width: 100%"><span class="fr-img-wrap"> <p dir="ltr"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/10/13/bf7477a07ff4bdbb41276d63e92a2ee0.webp" style="width: 100%" class="fr-fic fr-dib" width="600" height="260"><span class="fr-inner"><a rel="noopener noreferrer nofollow" title="Stellar" href="https://thebittimes.com/tag/stellar.html">Stellar</a> <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> chart. Source:&nbsp;TradingView</span></p> <p></p></span></span>
  <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>
 </div>
 <h2 dir="ltr" id="can-bulls-retake-control">Can bulls retake control?</h2>
 <p dir="ltr"><a rel="noopener noreferrer nofollow" title="XLM" href="https://thebittimes.com/tag/xlm.html">XLM</a> <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> will need to see a sustained push from current levels towards the descending trendline and possibly break higher to flip bullish. &nbsp;If <a rel="noopener noreferrer nofollow" title="XLM" href="https://thebittimes.com/tag/xlm.html">XLM</a> breaks above $0.13, buyers might target the immediate term supply wall around $0.16.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/xlm-price-could-key-stellar-news-help-stem-bearish-flip-tbt66292.html">https://thebittimes.com/xlm-price-could-key-stellar-news-help-stem-bearish-flip-tbt66292.html</a></p>

XLM price: could key Stellar news help stem bearish flip?

Table of Contents

TheBitTimes

Other articles published on Oct 13, 2023

What happens if SEC doesn’t appeal Grayscale spot Bitcoin ETF ruling?

RUNE Price Analysis: RUNE Avoids Bear Trap, Soon To $2?

Stablecoin issuer Tether appoints Paolo Ardoino as new CEO

Phoenix Group’s Impending IPO on Abu Dhabi Securities Exchange

Identity of FTX hacker remains a mystery as stolen assets shift again

Fantom (FTM) Price Prediction 2024, 2025, 2030, 2040, and 2050

Join our free newsletter for daily crypto updates!