Stellar’s Price Stays Near Support Despite Weekly Drop, Breaks Long-Term Resistance

Stellar’s price currently sits near the $0.247 support level following a significant 14.4% weekly decline. While trading around $0.2494, the asset is displaying a tight range between $0.247 and $0.2599, breaking through a long-term descending resistance line in the process. Analysts believe this move is driven by developments in DeFi applications and increasing institutional investments.