Stellar Rockets 14% Then Crashes—Network Upgrade Sparks Wild Price Swings
Stellar just gave traders whiplash—a 14% moonshot followed by a brutal reversal. The culprit? A protocol upgrade that turned the network into a volatility playground.
Upgrade Chaos Unleashed
Price charts went parabolic before nosediving as the upgrade triggered algorithmic trading frenzies. Market makers feasted on the liquidity surge while retail traders got steamrolled—business as usual in crypto casinos.
Protocol Turbulence Ahead
The network's new features are live, but stability remains shaky. Developers promise smoother sailing post-upgrade, but traders should buckle up for more turbulence. After all, what's blockchain without a little drama?
Another day, another 'decentralized' asset dancing to the tune of whale wallets and bot armies. The revolution will be tokenized—and extremely messy.
Technical Analysis Highlights
- Price range: $0.252 to $0.293 - a 14.3% intraday gain before falling to $0.2896.
- Volume surge: Peaks at 405.9M, nearly 7.5x the 24-hour average of 54.7M.
- Resistance breakouts: $0.270 and $0.278 flipped to support on strong volume.
- Retracement of 2.05% from $0.293 to $0.287 after $0.291 was breached.
- New resistance: Formed near $0.294 following selling pressure.
- Development driver: Release of Stellar Core v23.0.0rc2 enhances sentiment around protocol maturity and upgrade readiness.
Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
