Stellar Lumens, Aave, Dash Price Analysis: 18 March
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]
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 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.
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.