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Stellar Lumens, NEM, Zcash Price Analysis: 15 January

Akashnath Sumukar

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Source: Pixabay

Stellar Lumens marked some important levels on the price charts over the last few days and it could be set to trade within a range for the next few days as well. NEM was in a similar situation, and its rejection at a level of resistance could see a drop to $0.2. Finally, Zcash could revisit $100 as support, should the bulls be unable to defend the $110-region.

Stellar Lumens [XLM]

Stellar Lumens, NEM, Zcash Price Analysis: 15 January

Source: XLM/USD on TradingView

Stellar Lumens surged recently from $0.23 to $0.31 on the price chart. This represented a possible range that XLM could trade within for several more days to come, with its boundaries at $0.224 and $0.313 and the mid-point at $0.265.

These two levels have been of importance since the November surge from $0.079 to $0.233. This move’s 27% extension was $0.313.

At the time of writing, XLM was trading above the mid-point and the RSI climbed above neutral 50 to indicate a shift in momentum towards the bullish side.

XLM’s price has been unable to close above the range, however, it should be noted that trading volume has also been low. A trading session close above the range on significant trading volume would confirm a breakout.

NEM [XEM]

Stellar Lumens, NEM, Zcash Price Analysis: 15 January

Source: XEM/USD on TradingView

The Fixed Range Volume Profile for XEM showed that the $0.2 and $0.25-levels of support and resistance, respectively, have been of crucial importance to the price. It highlighted the Point of Control to be at the $0.23-mark.

Hence, a rejection at or a move above the PoC would dictate the short-term direction of the XEM market.

The 4-hour chart’s MACD noted that the momentum had stalled over the past couple of days as the price was unable to push past $0.23. This rejection implied that $0.215 and $0.2 were the targets for the bears.

Zcash [ZEC]

Stellar Lumens, NEM, Zcash Price Analysis: 15 January

Source: ZEC/USDT on TradingView

Using the Fibonacci retracement tool for ZEC’s move from $54.6 to $120.6, some important levels of retracement were highlighted. The region between $96.6 and $100 can be expected to offer support if the price dips.

At the time of writing, the $109-support level held strong, even though the Awesome Oscillator showed that bullish momentum was waning.

A close below $109 can see ZEC dip towards $100.


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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.