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Stellar Lumens [XLM/USD] Technical Analysis: Bulls rest while bears plan siege

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Stellar Lumens [XLM/USD] Technical Analysis: The bulls rest while the bears plan a siege
Source: Pixabay

Stellar Lumens is the only cryptocurrency that has been seeing a lot of volatility in the market, the prices have been varying in +/- 5% every other day. The current price of XLM is $0.2538, while the market cap is holding at $4.74 billion.

The trading volume of XLM is $64.98 million while most of the XLM trade volume is coming from Binance which is contributing ~25% of the total trade volume.

1-hour

Source: Trading View

The one-hour chart is showing an uptrend that spans from $0.2659 to $0.2858, while the downtrend ranges from $0.2856 to $0.2547. The previous supports have been broken and a new support is set up at $0.2531. The resistance points are at $0.2597, $0.2750 and $0.2858.

The Bollinger Bands are in an expansion state, indicating a period of high volatility. The price candles are below the simple moving average, indicating a bearish presence in the market.

The Aroon indicator shows that the downtrend is dominating as it has hit the 100 line, while the Aroon up line has collapsed to the bottom.

The MACD indicator shows a bearish crossover that has occurred, indicating a bearish presence. The MACD histogram shows the same with red bars developing above the zero line.

1-day

Source: Trading View

The uptrend is very small and it ranges from $0.2259 to $0.2542 while the downtrend ranges from $0.4582 to $0.2775. The immediate support is formed at $0.2227, which is followed by $0.2072 and $0.1768. The resistance points are holding steady, with the first resistance point set up at $0.2813. The subsequent resistances are set up at $0.3336 and $0.3693.

The Parabolic SAR markers are forming below the price candles, indicating a bullish presence. The markers, however, are showing signs of reversal.

The MACD indicator is showing a bullish presence as well. However, the lines look like they are about to have a bearish crossover.

The Awesome Oscillator shows the spawning of red spikes above the zero line, which indicates that the short-term period is trending higher than the long-term period.



Conclusion

The one-hour chart, unlike the one-day chart, is showing a strong bearish trend as indicated by Bollinger Band, AO, and MACD. The one-day chart shows a weak but a bullish trend.





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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

Litecoin [LTC] smashes $100 valuation for the second time this year

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Litecoin [LTC] smashes $100 valuation; twice in the same year
Source: Pixabay

Litecoin [LTC] posted massive gains and came out as the biggest winner among altcoins as the week came to an end. The digital coin led the altcoin pack towards another bull run.

The latest pump, however, drove the crypto-asset’s price over $100-mark for the second time this year. Subsequently, the silver coin took over EOS to secure its position as the fifth largest crypto-asset by market cap.

As the crypto market started embracing green, many analysts in the space are of the opinion that the “altseason is upon us”. With the latest upswing, LTC became the fourth coin in the top ten with a three-digit valuation after Bitcoin [BTC], Ethereum [ETH], and Bitcoin Cash [BCH].

Source: TradingView

At press time, the coin was priced at $103.4 after surging by 7.93% over the last 24 hours. LTC registered a market cap of $6.40 billion and a 24-hour trading volume of $6.14 billion. Additionally, the digital coin rallied by 17.52% over the past week.

Litecoin was trading highest on Coineal via the trading pair LTC/BTC, accounting for a volume of 11.98%. The crypto-asset exchange was followed by EXX, which held 8.48% of the trading volume via LTC/USDT.



The upcoming Litecoin second halving event, scheduled for August 2019, and institutional adoption of the crypto were attributed to the series of bull domination this year.

Litecoin crashed soon after June 2018 and hit the lowest point at $30 earlier this year. The coin’s market recovery was resisted by bears as it was juggling within the range of $85-$90 before breaking the much-anticipated $100-mark.





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