In his newsletter, crypto expert Rekt Capital offered a thorough technical analysis of ONDO and Stellar (XLM). His analysis highlights how both tokens have performed, providing information on their price patterns, past trends, and possible future developments.
Stellar (XLM) Approaches Historical Reference Zone
According to Rekt Capital, XLM has been navigating a volatile market, with focus on its historical Binance listing price. This price point has consistently been a key marker for XLM, serving as a resistance level in 2019 and 2022, and as a support level in early 2021.
https://twitter.com/rektcapital/status/1867020849892520129
The expert emphasized that any further pullbacks could bring XLM back to this region for a potential retest. Historically, XLM has demonstrated a tendency to revisit this zone, cementing its role as a critical price benchmark.
The current market performance has sparked questions about whether history will repeat itself with another retest of this level. As of this writing, XLM trades at $0.4319 according to CoinGecko. This value reflects a 4.64% rise over the last day.
However, the token has seen an 11.86% drop in the past week, indicating mixed market sentiment.
Related: How Much Will 25,000 Stellar (XLM) Tokens Be Worth at Peak of the Bull Run?
Ondo (ONDO) Defies Odds with Rare Post-Breakout Retest
ONDO has achieved a notable technical feat by successfully performing a post-breakout retest of its previous all-time highs. This move, while rare for cryptocurrencies in price discovery mode, has solidified these highs as new support levels, a development that could pave the way for further upward momentum.
The analysis stressed that while this retest signals strength, chasing the current uptrend may not be advisable. Instead, traders might consider waiting for another retest, though such occurrences are uncommon.
CoinGecko data reveals that ONDO is currently priced at $1.88, marking a 9.85% increase over the past 24 hours and a 5.62% gain in the last seven days. These figures highlight ONDO’s robust market performance, as traders weigh its future potential against its rare technical achievement.
Read also: Is $7 Still a Realistic Target for Cardano (ADA) Price?
Market Observers Monitor Key Developments
The contrasting trajectories of Stellar (XLM) and Ondo (ONDO) underline the diverse market dynamics at play.
While XLM faces the possibility of revisiting a critical historical price zone, ONDO’s post-breakout performance offers a unique case of technical resilience.
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The post Stellar (XLM) Price Shows Volatility Above Historical Support as ONDO Strengthens with Rare Breakout Retest appeared first on CaptainAltcoin.
