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Analysis

XRP and Stellar Lumens [XLM] Price Analysis: Brief market recovery fails to extract coin’s price from bear pit

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XRP and Stellar Lumens [XLM] Price Analysis: Valuation continues to fall as recovery signs remains minimal
Source: Pixabay

The collective crypto market exhibited minor recovery, climbing to a market cap of $184 million. The third largest crypto-asset on the CoinMarketCap, XRP held a market cap of $113.73 billion and recorded a price of $0.32, at press time. The coin registered a 24-hour trading volume of $1.65 billion and an insignificant rally of 0.29% over the past 24 hours, at press time.

Stellar Lumens accumulated a market cap of $2.21 billion and a 24-hour trading volume of $256.5 million. The ninth largest digital coin was valued at $0.114 following a minor rally of 1.73% over the last 24 hours.

1-day XRP chart

Source: TradingView

The candlestick arrangement on XRP’s one-day chart exhibited a minor uptrend from $0.30 to $0.33 fueled by the latest rally. Two downtrends were noted on the chart from $0.51 to $0.37 and from $0.36 to $0.26. The resistance points for the chart were at $0.37, $0.45 and $0.51 while the support stood at $0.29.

Parabolic SAR: The dotted markers were above the candles, indicating a bearish phase for the crypto-asset.

MACD: The MACD line was below the signal line, exhibiting a bearish pattern for coin’s valuation.

Klinger Oscillator: The reading line was also below the signal line and predicted a bearish course for XRP’s price.

1-day XLM chart

Source: TradingView

Two uptrends were registered on the one-day XLM chart, from $0.083 to $0.10 and from $0.10 to $0.12, followed by a minor correction. A major downtrend from $0.27 to $0.13 was also recorded.

The resistance for the coin was found at $0.27, $0.20 and $0.16, while the support points stood at $0.084.

Bollinger Bands: The parallel bands implied that XLM’s valuation was following a stagnant course.

Awesome Oscillator: The closing bars of the indicator were red and indicated a bearish pattern for the coin.

Chaikin Money Flow: The CMF was also below the zero-line, indicating that money was flowing out of the coin market. Hence, a bearish price trend for XLM was pictured.



Conclusion

The charts exhibited strong bearish projections for both the coins and reduced volatility for Stellar Lumens [XLM].





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

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Analysis

Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX bulls race to the top

Yash Rajan

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Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX bulls race to the top
Source: Pixabay

Ethereum [ETH], the second largest cryptocurrency on CoinMarketCap, was priced at $249.71, at press time. The market cap of ETH was $26.5 billion, with the coin falling by 2.62% over 24 hours. At press time, the 24-hour trading volume was just over $11 billion.

With $1.87 billion in market cap, TRX was ranked eleventh and was priced at $0.02, at press time. The 24-hour trading volume was $692.92 million, with the coin falling by 3.87% in value, at press time.

1-Day ETH

ETH saw resistance at $266.14, and its support lines were traced at $150.45 and $104.64. There was an uptrend extending from $153.89 to $261.56. ETH strengthened its value by experiencing a hike in price and retaining continuous growth for the past two weeks.

Source: TradingView

Source: TradingView

Bollinger Bands were diverging and showcased an increase in volatility in the market. As the moving average line was below the candlesticks, a bullish trend was forecast.

Awesome Oscillator conveyed a bullish buying opportunity as the short-term momentum was rising swiftly.

Chaikin Money Flow indicator revealed that the amount of money flowing into the market was greater than the money flowing out of the market.

1-Day TRX

The resistance stood at $0.03 and the support lines stood at $0.02 and $0.01 for TRX. TRX saw its first uptrend from $0.026 to $ 0.031, and the second uptrend was from $0.024 to $0.034.

Source: TradingView

Source: TradingView

Moving Average Convergence/Divergence [MACD] indicator pictured a bullish crossover.

Parabolic SAR indicator conveyed a bullish trend as the dotted markers were traced below the candlesticks

Relative Strength Index indicator showed bullish divergence due to the oversold condition of the market.



Conclusion

The coins were strengthened by the bullish market trend. All indicators showed both coins recording steady and forward movement.





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