bitcoin
Bitcoin (BITCOIN)
$111,515 -1.91%
ethereum
Ethereum (ETHEREUM)
$4,010 -4.47%
binancecoin
BNB (BINANCECOIN)
$995.44 -2.01%
solana
Solana (SOLANA)
$202.89 -6.04%
ripple
XRP (RIPPLE)
$2.84 -2.73%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 -3.31%
pepe
Pepe (PEPE)
$0.000009 -3.48%
bonk
Bonk (BONK)
$0.000020 -5.17%
bitcoin
Bitcoin (BITCOIN)
$111,515 -1.91%
ethereum
Ethereum (ETHEREUM)
$4,010 -4.47%
binancecoin
BNB (BINANCECOIN)
$995.44 -2.01%
solana
Solana (SOLANA)
$202.89 -6.04%
ripple
XRP (RIPPLE)
$2.84 -2.73%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 -3.31%
pepe
Pepe (PEPE)
$0.000009 -3.48%
bonk
Bonk (BONK)
$0.000020 -5.17%
bitcoin
Bitcoin (BITCOIN)
$111,515 -1.91%
ethereum
Ethereum (ETHEREUM)
$4,010 -4.47%
binancecoin
BNB (BINANCECOIN)
$995.44 -2.01%
solana
Solana (SOLANA)
$202.89 -6.04%
ripple
XRP (RIPPLE)
$2.84 -2.73%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 -3.31%
pepe
Pepe (PEPE)
$0.000009 -3.48%
bonk
Bonk (BONK)
$0.000020 -5.17%
Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
STBL Price Soars 12% Following KuCoin Listing, but Bearish Signals Emerge

Highlights:

  • The STBL price remains stable at $0.48, marking a 12% gain in a day.
  • The surge comes following STBL  KuCoin listing.
  • The funding rate remains positive, showing positive momentum in the STBL market. 

The STBL price remains stable at $0.48, representing a 12% increase. Accompanying the price movement is its daily trading volume, which has spiked 28% to $335 million. The recent surge comes as the new stablecoin meta-protocol, STBL, obtains an official listing on the KuCoin exchange as part of the company’s RWA on Sep 25. Having STBLs on one of the largest exchanges likely increases STBLs’ visibility, which in turn increases exposure and leads to greater acceptance.

Advertisement

Banner

The inclusion of STBL into KuCoin enhances user participation, which in turn boosts the liquidity of stablecoins and holds promise for further growth. The increasing demand for more financially stable and secure cryptocurrencies has grown as the market progresses. Traders are very interested, as evidenced by the consistent rise in STBL at the open interest-weighted funding rate. Currently, the funding rate is positive a 0.0458%, indicating positive momentum. 

 

STBL OI-Weighted Funding Rate. Source: CoinGlass

If the funding rate is positive and not extremely high, it means that the longs are paying the shorts. This usually occurs when the market is rallying.

How High Can STBL Price Go?

The STBL price has increased significantly. According to the latest data, the token is now trading at $0.4876, sitting above the $0.4189 support level, coinciding with the 50-day SMA. The price action at present is consolidating inside an ascending channel, but could indicate that STBL is gearing up for a breakout or correction.

STBL price
STBL/USD 2-hour chart: TradingView

Diving into the technical outlook, an RSI of 52.06 indicates a neutral position in the STBL market. This gives the bulls room to move to the upside if the bears lose stamina in the market. The MACD indicator exhibits negative momentum as the histogram turns red. Moreover, the blue MACD line is sitting firmly below the signal line, cautioning that more downside is imminent in the STBL price. 

Can Bulls Rally Towards $0.80?

The STBL/USD 2-hour chart indicates a potential target of around $0.80 if a breakout occurs with strong momentum. For now, the key level to watch is the resistance at $0.60. A daily close above this level could confirm a breakout and open the door for higher targets, such as $0.70 or even $0.80. Until then, the setup still favours the bulls, with limited downside and high potential rewards if the breakout is successful.

In short, the STBL price is holding firm at support and starting to show signs of turning upward. If the breakout happens, it could mark the start of a new bullish trend. Traders and investors are watching closely for confirmation in the days ahead. Conversely, if the bears capitalize on the sell signal from the MACD indicator, a plunge towards $0.41 support zone will be imminent. A drop below this mark will invalidate the bullish thesis, calling for further downside in the market.

eToro Platform

Best Crypto Exchange

  • Over 90 top cryptos to trade
  • Regulated by top-tier entities
  • User-friendly trading app
  • 30+ million users
9.9

5 Stars

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

Advertisement

Banner

Advertisement

Banner

Advertisement

Banner