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Stellar Lumens, Aave, Dash Price Analysis: 18 March

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Source: Pixabay

Stellar Lumens defended the $0.382-level of support, with the market’s bulls pushing the price above $0.4 once more. Aave formed a triangle pattern and could see a strong move within a few days, although the direction was unconfirmed at press time. Finally, Dash dipped following a bearish divergence, but it was climbing the charts once again.

Stellar Lumens [XLM]

Stellar Lumens, Aave, Dash Price Analysis: 18 March

Source: XLM/USD on TradingView

The Aroon indicator showed that XLM lacked a definite trend over the past few days. XLM faced resistance in the region of supply at $0.422-$0.435 and was unable to climb past the $0.411-level over the past week.

The Supertrend indicator underlined a sell signal, however, an entry was suboptimal, at the time of writing. A rejection at $0.43, or a retest of $0.382 of support, will likely offer better risk-to-reward trades over the next few days.

Aave [AAVE]

Stellar Lumens, Aave, Dash Price Analysis: 18 March

Source: AAVE/USDT on TradingView

AAVE formed a descending triangle pattern backed by falling trading volume over the past few days, signaling that a strong move was imminent. A trading session close above or below the pattern on strong volume can be used as confirmation.

The OBV has been falling over the past few days, and a breakout past the descending trendline (white) will also confirm a move north. Take-profit from this move can be set at $420 and $440.

The MACD was moving under the zero line, but formed a bullish crossover. Closing under $360 can see AAVE drop back towards $310.

Dash [DASH]

Stellar Lumens, Aave, Dash Price Analysis: 18 March

Source: DASH/USDT on TradingView

Highlighted by the blue trendlines were the equal highs the price made a few days back while the RSI made lower highs. Such waning bullish momentum pointed to bearish divergence, and subsequently, DASH was forced to dip back towards the $219-level of support.

At the time of writing, the RSI had climbed back above 50, but momentum hadn’t necessarily swung in favor of the bulls, at press time. 

A dip to the $215-mark seemed very possible, and it can provide a good entry to a long position targeting $245 with a stop-loss of $205, just under the 38.2% retracement level.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.