The crypto market has turned back to its conventional state with most of the cryptocurrencies moving sideways. The one-hour statistics of the market looks red again with the best performers of last week, including Bitcoin Cash [BCH], EOS, are approaching the bear’s claws.
Considering the weekly report of the market, Stellar [XLM] stands at the top with an 11.73% gain, overtaking XRP which had surged by 10.71%. At the time of writing, XLM is trading at $0.26 with a market cap of $5.83 billion.
The 1-hour chart of XLM shows a resistance point which is set at $0.27. And a support line extending from $0.26 to $0.27 forming an ascending triangle with resistance depicting a healthy price trend.
The Klinger Oscillator made a bearish crossover with the signal line, indicating a slightly bearish trend.
The Awesome Oscillator is also showing a bearish trend in this timeline with the bar chart forming red vertical lines.
However, the Parabolic SAR continues its journey in along with the bullish trend with the dots aligned with the support line.
Considering the 1-day chart, the downtrend is ranging from $0.28 to $0.27 and the uptrend ranges from $0.23 to $0.25. It is being noticed that the resistance level formed in the month of September has not been broken yet. And the trend lines are forming an ascending triangle depicting a bullish breakout in the coming days.
The RSI is currently moving towards the overbought zone demonstrating that the cryptocurrency continues to maintain its buyers’ circle.
The MACD line showed a significant bullish crossover and continued the same trend since then. Currently, both MACD and signal lines are moving towards the bullish zone with a positive histogram.
The Chaikin Money Flow strongly agrees with the above indicators by moving above the 0-line constantly for more than a week.
Majority of the indicators in both the timelines are showing a bullish trend in the case of XLM. Though Klinger Oscillator and Awesome Oscillator are depicting a bearish trend in the 1-hour chart, all the other indicators are providing a strong support to the bull run of the cryptocurrency in a longer run.
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Facebook’s Libra hit by more accusations, Balaji Srinivasan on BTC investment and more
Crypto News – 24 June – Facebook’s Libra hit by more accusations, Balaji Srinivasan on BTC investment and more
— AMBCrypto (@CryptoAmb) June 24, 2019
Crypto News – 24 June
Erik Voorhees on Bitcoin: According to the CEO of Shapeshift, Bitcoin’s relative traceability has allowed governments to become comfortable with it
Read more at https://bit.ly/2WVviJW
Max Keiser on gold’s ‘resurgence:‘ Max Keiser made news after he stated that Bitcoin’s growing popularity as a competing store of value and millennials were responsible for gold resurfacing in the conversation about store of value assets
Read more at https://bit.ly/2Xve2zp
Tron back in the top 10: A month after CEO Justin Sun promised to get Tron back in the top 10 of the world’s largest cryptocurrencies, TRX surged by over 6% to achieve the same by overtaking Cardano
Read more at https://bit.ly/31TXekX
Bank of International Settlements on Libra: While talking about Facebook’s Libra, BIS’s report attested to the need for sound public policy, financial regulation, competition regulation, and data privacy regulation
Read more at https://bit.ly/2Fsoptu
Bitcoin short futures position on the rise: According to a Twitter user, 70% of all Bitcoin short futures position are taken by four traders
Read more at https://bit.ly/31Om4CQ
LocalBitcoins’ Russian Ruble trading charts: According to CoinDance, the weekly LocalBitcoins chart revealed that the Russian Ruble [RUB] recorded towering volumes, even after the June 1 cash-exodus announcement
Read more at https://bit.ly/2JgRWYz
Howard Chu on Monero: According to the Founder of Symas Corp., Monero was “outstripping” other projects in the space which have larger budgets, in light of the new features added to Monero
Read more at https://bit.ly/2Y8IsEQ
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