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Stellar Lumens [XLM/USD] Technical Analysis: Bear seems to be losing its grip while bulls start to take over

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Stellar Lumens [XLM/USD] Technical Analysis: The bear seems to be loosing its grip while bulls start to take over
Source: Unsplash

Stellar Lumens is performing good when compared to other cryptocurrencies, with a steady rise followed by a correction. The speculation about the rise in prices could very well be due to the launch of Starlight payment and the partnership deal with Bithumb and SeriesOne to launch an exchange for regulated security tokens.

The price of XLM at the time of writing is at $0.2368, with the market cap of $4.8 billion.

1-hour

Source: Trading View

Bollinger Bands is showing a high volatility in the one-hour graph and the price candles are above the moving average indicating a bullish trend.

The Chaikin Money Flow indicates an inflow of the money is the same as the money flowing out of the market.

The RSI indicator has seen an overbought market but is still bullish as the RSI line is closer to the top end.

1-day

Source: Trading View

A downtrend is clearly visible and is ranging from $0.4582 to $0.2522, while an uptrend is absent since July. There is a long-term support set up at $0.1769, with resistance set up at $0.2597 and $0.3336.

The Parabolic SAR markers below the price candles indicating a bullish trend.

The MACD indicator has seen a bearish crossover on October 25 and has continued ever since.

The Stochastic indicator is opposing the MACD indicator showing a bullish crossover.



Conclusion

The Bollinger bands in the one-hour chart are showing a massive amount of volatility in the market indicating that there is a lot of trading action happening in the market. CMF and RSI are a both returning from a bullish point to a more neutral position. The price action on the one-day charts as indicated by the indicators show a bullish trend except for the MACD indicator.





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Analysis

Tron [TRX] surges 7.50% in an hour after Justin Sun hints at ‘huge and amazing’ announcement in TRX, BTT ecosystem

Biraajmaan Tamuly

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Tron [TRX] surges 7.50% in an hour following a "Something huge" Justin Sun announcement
Source: Pixabay

Justin Sun’s Tron [TRX] has been one of the top performers in the recent price surge, which collectively improved the overall market cap of the virtual asset. At press time, Tron exhibited another major surge, as the one-hour chart experienced a rapid hike of 7.50%, according to Trading View.

Source: Trading View

According to CoinMarketCap, Tron was the eleventh largest cryptocurrency at press time with a market capitalization of $1.93 billion. The trade volume for the token was around $709 million and the coin was priced at $0.0289.

The token was traded the most on the Fatbtc exchange via the TRX/ETH pair, which accounted for 8.52 percent of the volume, equivalent to $63 million. BW.com exchange followed up in second place with a trade volume of 8.44 percent via the trade pair TRX/USDT.

Crypto enthusiasts attributed the current price surge to a statement made by Justin Sun on Twitter, where he hinted at a major announcement with regards to Tron and BitTorrent.



He stated,

Source: Twitter

The announcement gathered the attention of the crypto-community and the market responded to the announcement as capital started flowing into the token’s market. Jayden Crypto, a popular crypto-trader, also responded to the upcoming announcement and indicated that a major flash hike might be in the offing for Justin Sun-led cryptocurrency.





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