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Stellar Lumens, Chainlink, Filecoin Price Analysis: 27 March

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Source: Pixabay

Stellar Lumens faced resistance at the $0.38 level and was forced to pull back, while Chainlink climbed above $26.7. Filecoin showed a bearish divergence and highlighted an attractive area to buy at.

Stellar Lumens [XLM]

Stellar Lumens, Chainlink, Filecoin Price Analysis: 27 March

Source: XLM/USD on TradingView

The past week has been bearish for XLM, following yet another rejection at the $0.43 region of supply. Over the past month, XLM has consolidated between the $0.438 and $0.36 levels, with some deviations to either side of these boundaries.

In the short-term, the bias for XLM lost its bullish steam after rejection at the 50% retracement level at $0.387. This could prompt another descent beneath the $0.375 mark, as the Directional Movement Index showed that the uptrend had lost strength.

There was some buying behind the recent bounce shown on the OBV, but the reaction on a retest of $0.375 would indicate whether another slide is in the making.

Flipping $0.387 to support would be a sign to buy XLM, to sell at the supply zone.

Chainlink [LINK]

Stellar Lumens, Chainlink, Filecoin Price Analysis: 27 March

Source: LINK/USD on TradingView

There was no real trend for LINK in the longer-term perspective. Since late February, LINK has ranged between the $23-$31 levels for the most part. However, this does not imply a lack of trading opportunities.

LINK climbed back above the $24.8-$25.8 area of demand and at the time of writing was looking to flip the $26.8 level to support. On lower timeframes, momentum was shifting toward bullish favor, and a move higher off $26.7-$26.8 was likely to play out.

CMF climbed above +0.05 to show capital flow into the markets, and MACD was climbing back toward the zero line to show weakening bearish strength.

Filecoin [FIL]

Stellar Lumens, Chainlink, Filecoin Price Analysis: 27 March

Source: FIL/USDT on TradingView

On the hourly chart, there was a bearish divergence between the price and momentum, highlighted in orange. This could see FIL pull back to the region of demand at $117, which would offer a buying opportunity.

A deeper pullback cannot be discounted, but divergences don’t necessarily play out. Hence, a revisit to $126 and $117 can be used to scale into a long position, and a move above the highs at $137 would set a 27% extension target of $163.

Descending beneath $108 could be a sign of bulls losing momentum, and $100 and $93 would be levels of interest to buyers. The longer timeframes do not yet show a divergence, and FIL likely has further upside past $137.

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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.