Connect with us

Analysis

Ethereum [ETH/USD] and Stellar Lumens [XLM/USD] Technical Analysis: Bears continue to maul biggest losers

Anirudh VK

Published

on

Ethereum [ETH/USD] and Stellar Lumens [XLM/USD] Technical Analysis: Bears continue to maul biggest losers
Source: Unsplash

Ethereum [ETH] and Stellar Lumens [XLM] were some of the coins that bled the most as the bear massacred the market yesterday. Ethereum took a hit of 12% to its price, with Stellar erasing over 12.5% of its value.

Ethereum:
1 hour:
The $216 – $200 downtrend is in power currently, coming off the resistance level at $232. There was a support level at $216 which was broken during the latest downtrend. The $200 psychological barrier is holding strong as the price stays constant at the range.

The MACD is moving downwards and is signaling a strong bearish movement. The histogram implies that it might move upwards in the short-term.

The Double Bollinger Bands show that the downward trend is exhibiting strong movement, as it is walking the bands.

1 day:
There is a strong downtrend that is in power since May, namely the $820 – $226. However, the $183 – $199 uptrend is providing short-term support for the price.

The Parabolic SAR is bearish, and the price is executing downwards movement in conjunction with the indicator.

The Klinger VO is exhibiting a sharp bearish turn, as the Awesome Oscillator indicator is moving between green and red.

Stellar Lumens:
1 hour:
The $0.288 – $0.212 downtrend is in power currently, with the $0.25 mark acting as a resistance.

The Parabolic SAR indicator is bearish, as seen by the presence of the dots over the candles.

The SMI recovered from an oversold zone, with a slight uptrend into the neutral levels.

The Volume Oscillator is demonstrating a downward movement after the spike earlier today due to the drop.

1 day:
The $0.438 -$0.281 – $0.247 downtrend is exerting its dominance on the price with the continued downward movement since May. The $0.176 level is providing a long-term support.

The Klinger Volume Oscillator is neutral and is slowly moving downward.

The MACD is set to move downwards, with the histogram moving away from the zero.



Conclusion:

The two biggest losers in the market seem to be headed closer to their bottom price seen this year. The indicators imply that the price is headed for further downward movement.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

Analysis

XRP vs Stellar Lumens [XLM] Price Analysis: Bears stall coins’ bullish momentum

Yash Rajan

Published

on

XRP vs Stellar Lumen [XLM] Price Analysis: XRP and XLM bulls stalwart bears
Source: Pixabay

Ripple’s XRP saw a huge amount of capital being transferred yesterday and was ranked third on CoinMarketCap, with a market cap of $16.258 billion, at press time. According to CoinMarketCap, XRP was priced at $0.386 and had a 24 hour trading volume of $1.664 billion. It surged by 4.07% over 24 hours.

Stellar Lumens [XLM] stood ninth on the top-10 cryptocurrencies with a market cap of $2.438 billion. XLM was priced at $0.126 with a 24 hour trading volume of $474.116 million. XLM rose by 3.96% over the past 24 hours.

1-Day XRP

Resistance lines stood at $0.458 and $0.402 and supports were at $0.311 and $0.285. XRP saw an uptrend over the course of six months from $0.364 to $0.459. XRP also drew a downtrend over the past two weeks from $0.457 to $0.391.

Source: TradingView

Source: TradingView

Parabolic SAR markers were above the candles and indicated a bearish environment for the coin.

Moving Average Convergence/Divergence [MACD] indicator suggested an imminent bearish crossover

Relative Strength Index indicator showed that the buying and selling pressures had evened each other out

1-Day XLM

Stellar Lumens [XLM] saw an uptrend from $0.126 to $0.142. Resistance lines stood at $0.143 and $0.127 and support lines stood at $0.741 and $0.115.

Source: TradingView

Source: TradingView

Bollinger Bands pointed towards increment in volatility.

Awesome Oscillator indicator presented a bullish buying opportunity. However, bearish pressure was seen over the last few histogram bars.

Chaikin Money Flow indicator showed that the money flowing into the market was greater than the money flowing out of the market.



Conclusion

Both XRP and XLM seemed to have stalled in the face of bearish pressure, after posting some bullish gains.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending