XLM, NEO, and LEO experienced a sharp recovery after the recent sell-off. The existing channels may limit further recovery. The cryptocurrency market can be wild. Sometimes it is cruel and brings painful losses to coin holders, but the next day comes and rewards those who did not panic-sell. Many digital assets suffered from massive losses on Tuesday, but some of them managed to stage s spectacular comeback. Not only did they fully recovered, but they also gained ground in comparison to Tuesday’s opening levels. We have chosen three altcoins out of top-30 with the most spectacular reversal in the recent 48 hours to find out what is in store for them and if the technical and on-chain metrics support the further price increase. Stellar lives up to its name Stellar (XLM) dropped to $0.077 on Tuesday and extended the decline to $0.075 during early Asian hours; however, a strong buying interest clustered around this barrier triggered a sharp recovery and pushed the price above $0.08. At the time of writing, XLM/USD is changing hands at $0.0805. On a daily chart, the price has reversed from the lower line of the bearish flag formation. The next recovery target comes at $0.089-$0.09, which coincides with the flag’s upper line. A sustainable move higher will negate the bearish signal bring $0.099-$0.10 into focus. A break below $0.076-$0.075 will confirm the bearish trend’s continuation and open up the way to $0.071 (the lowest level since September 4, reinforced by 0.78 Fibo for the upside move from June 27 low). XLM/USD daily chart, Flag formation NEO finds bullish inspiration after the sell-off NEO/USD bottomed at $3.92 on March 12 at has been recovering ever since. The coin is moving within a long-term upside channel limited by $14.50 on the downside and $26.0 on the upside. At the time of writing, NEO/USD is changing hands at $21.24. The coin has recovered after Tuesday’s sell-off to $19.39 to trade at $21.25 at the time of writing. Despite the recovery, the coin is still moving within a consolidation pattern. A sustainable move above the recent recovery high of $23.00 will help create a bullish momentum and bring the above-mentioned channel resistance of $26.00 into focus. Meanwhile, on the downside, the price is supported by the psychological barrier $20.00, as all recent attempts to settle below this level failed. A daily close lower will bring more bears to the market and allow for the sell-off to $19.00. NEO/USD daily chart, bullish channel LEO is growing like there’s no tomorrow LEO is a native token of the cryptocurrency exchange Bitfinex. The coin dropped to $1.13 on Tuesday only to recover to $1.18 by press time. The digital asset has been oscillating in a broad range of $1.12-1.29 since the end of May. The recent sell-off to the channel support also resulted in a sharp correction, adding credibility to this barrier. From the technical point of view, the initial recovery target is created by the daily SMA100 at $1.23. Once it is broken, the price will proceed with the recovery until it bumps into channel resistance at $1.29. On the downside, $1.12 has been tested on several occasions since May, meaning that a daily close below this level will become a strong bullish signal that will open the door for the bearish payers. The next barrier is $1.00. LEO/USD daily chart, a wide range To conclude: Stellar NEO and LEO recovered the losses incurred during the sell-off and may continue moving higher within the current ranges. The long-term picture remains uncertain as XLP is locked in a bearish flag formation, while NEO and LEO are range-bound. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Pound Sterling Price News and Forecast: GBP/USD advances above 1.2970 as focus shifts to FOMC meeting [Video] FX Street 2 years XLM, NEO, and LEO experienced a sharp recovery after the recent sell-off. The existing channels may limit further recovery. The cryptocurrency market can be wild. Sometimes it is cruel and brings painful losses to coin holders, but the next day comes and rewards those who did not panic-sell. Many digital assets suffered from massive losses on Tuesday, but some of them managed to stage s spectacular comeback. Not only did they fully recovered, but they also gained ground in comparison to Tuesday's opening levels. 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