Outstanding and ApeCoin Rate Forecast: XLM and APE Facing More Downside Risk
Stellar hit its all-time high back in 2018, just 4 years after its launch, but since then, it’s taken quite a hit, dropping around 71% from those peak levels. Experts say ApeCoin could hit $0.70 if it breaks the $0.65 resistance, while Stellar is likely heading for a correction. Stellar (XLM) is known for helping with faster and more affordable cross-border payments, but the token has been struggling recently. After attempting to push past the $0.28 resistance level, it simply could not hold the momentum. Back on June 11, the price failed to close above a crucial downward trendline, which didn’t help investor confidence. To top it off, the MACD indicator recently flashed a bearish crossover on the daily chart, another sign that the bulls might be slowing. Technical analysts state Stellar keeps getting knocked back each time it tries to break past key resistance levels. The sentiment around it isn’t helping either; its RSI is resting at 37, indicating growing selling pressure. If it can’t push higher soon, some experts believe it might dip towards $0.2441, and if market conditions worsen, potentially even drop closer to $0.2321. The latest derivatives data adds weight to the cautious sentiment surrounding Stellar (XLM). Trading volume in derivatives has dropped by 14.05% to $177.85 million, while open interest has slipped 4.14% to $148.52 million, both indicators that traders are stepping back. XLM is trading at $0.2504, marking a 2.86% dip in the last 24 hours. Its market cap has also declined by 2.86%, now sitting at $7.81 billion, with a 3.76% drop in 24-hour trading volume to $203.52 million. These indicators suggest weakening momentum and growing uncertainty in the market. On a more positive note, Valour, a subsidiary of DeFi Technologies, just introduced a Stellar ETP in Swedish krona on Sweden’s Spotlight Stock Market. It’s a move that could help more traditional investors dip their toes into Stellar, alongside other digital assets like Mantra (OM), Tron (TRX), and Tether Gold (XAUt).
ApeCoin (APE) is showing signs of weakness after a strong start earlier this year. The momentum has cooled down, and technical indicators suggest the token may be heading for a retest of its key support level at $0.68. If that level fails to hold, analysts warn that APE could sink further, possibly falling into the $0.50-$0.53 range, and in more bearish scenarios, even as low as $0.41. CoinCodex projects a drop to $0.51 by mid-July, citing neutral momentum and a declining Fear & Greed index as indicators. Trading activity around ApeCoin is also diminishing. Its 24-hour derivatives trading volume has dropped by 33.13% to $81.10 million, and open interest is down 4.41% to $214.14 million. APE’s spot price has fallen 6.67% in just 24 hours, currently hovering around $0.6166, which has also dragged its market cap to $464.12 million. Daily trading volume in the spot market has also decreased, down 21.76% to $32.8 million. Unless sentiment shifts or support holds firm, ApeCoin faces the risk of deeper losses in the near term. In other news, Crypto News Flash reported that Yuga Labs, the team behind Bored Ape Yacht Club, aims to shake things up by replacing the current ApeCoin DAO with a new structure called ‘ApeCo.’ The move comes in response to rising concerns about how ApeCoin is being governed.
Buy Stellar Guide Stellar Wallet Tutorial Check 24-hour Stellar Price More Stellar News What is Stellar?
Stellar hit its all-time high back in 2018, just 4 years after its launch, but since then, it’s taken quite a hit, dropping around 71% from those peak levels. Analysts say ApeCoin could hit $0.70 if it breaks the $0.65 resistance, while Stellar is likely heading for a correction. Technical analysts say Stellar keeps getting knocked back every time it tries to break past key resistance levels. On a more positive note, Valour, a subsidiary of DeFi Technologies, just rolled out a Stellar ETP in Swedish krona on Sweden’s Spotlight Stock Market. Buy Stellar Guide Stellar Wallet Tutorial Check 24-hour Stellar Price More Stellar News What is Stellar?
