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Binance and SEC Seek 60-Day Pause in Legal Proceedings Amid New Crypto Task Force Initiatives

In a significant development for the cryptocurrency industry, Binance and the SEC have requested a 60-day pause in their legal dispute following the establishment of a new SEC task force CoinOtag

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STELLAR PRICE ANALYSIS & PREDICTION (February 11) –XLM Calms At Critical Support, Ready For Another Breakdown?

Following the ongoing drop from January’s high, XLM posted a notable loss and became bearish. Having decreased by 22% in a week, it trades at support and looks prime for a down surge. After the first retracement phase that brought the price to a month low, XLM bounced back but failed to push the price above the $0.51 level. It marked resistance there and initiated a drop. That drop led to another retracement and the price tested a low of $0.26 after three weeks of steady drops. While this caused a major breakdown at the crucial $0.32 support level, the price didn’t stay much at that low due to bullish interception and the crypto traded back above this support. Facing resistance at $0.37, the crypto lost grip again and resumed drops, although the pressure appears low. If the bulls take advantage of this weakness, we may see a fresh increase anytime soon. As of now, it is yet to show signs of recovery. Meantime, the last three days have been boring for many traders as they saw little to no movement. The mentioned support level is still holding amid bearish market speculations. A clear breakdown from this support could bring us back to the weekly low before breaking lower. A recovery there should bring buying pressure back into the market. If that happens, XLM may reclaim the lost support before exploding massively. Currently, it is attempting to close the week in gain. XLM’s Key Level To Watch Source: Tradingview Aside from the mentioned losing support, the current weekly low is another level to watch. If they fail to contain selling pressure, the next level to consider for support is $0.189 and mainly $0.1. An increase could allow a recovery to $0.39 and $0.51. A cross over these levels could bring a full recovery to $0.637. The level to watch for a breakup is $0.8. Key Resistance Levels: $0.39, $0.51, $0.637 Key Support Levels: $0.32, $0.26, $0.189 Spot Price: $0.332 Trend: Bearish Volatility: Moderate Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: kirisa99/ 123RF // Image Effects by Colorcinch CoinOtag