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- Stellar hit its all-time high back in 2018, just four 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.
Stellar (XLM) is known for facilitating faster and cheaper cross-border payments, but the token has been struggling lately. After trying to push past the $0.28 resistance level, it just couldn’t hold the momentum. Back on June 11, the price failed to close above a key 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 losing steam.
Technical analysts say Stellar keeps getting knocked back every time it tries to break past key resistance. The mood around it isn’t helping either, its RSI is sitting around 37, which points to growing selling pressure. If it can’t push higher soon, some experts believe it could dip toward $0.2441, and if market conditions worsen, possibly 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 signs 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 hesitation in the market.
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. 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’s Rally Stalls Amid Bearish Signals
ApeCoin (APE) is showing signs of weakness after a strong start earlier this year. The momentum has cooled off, and technical indicators suggest the token could 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, potentially falling into the $0.50–$0.53 range, and in more bearish scenarios, even as low as $0.41.
CoinCodex, for instance, projects a drop to $0.51 by mid-July, citing neutral momentum and a declining Fear & Greed index as warning signs. On the trading front, activity around ApeCoin is also tapering off. 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 down to $464.12 million. Daily trading volume in the spot market has dipped as well, down 21.76% to $32.8 million. Overall, unless sentiment shifts or support holds firm, ApeCoin looks at 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, wants 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.
