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Analysis

XRP and Stellar Lumens [XLM] Price analysis: Coins undergo a sideways movement

Namrata Shukla

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Source: Pixabay

The cryptocurrency market saw a price pump which helped most cryptocurrencies to rise, however, XRP and Stellar Lumens [XLM] did not note a significant growth in the market. XRP and XLM are also the only two major coin to have performed negatively since the beginning of the year.

XRP

At press time, XRP was valued at $0.3121 with a market cap of $13.15 billion. The 24-hour trading volume of the coin was noted to be $2.43 billion as it noted a fall of 0.28% over the past day. Over the past seven days, XRP noted a growth of 3.09%, but fell by 0.82% within an hour.

Resistance- $0.3669

Support- $0.2911

Bollinger Bands appeared to be diverging, indicating increased volatility in the market. Due to the current volatility in the market the moving average line is coinciding with the candlesticks.

Awesome Oscillator indicates a bullish momentum might catch up.

Chaikin Money Flow, however, pointed towards a bear’s trap as the marker aligned under zero.

Stellar Lumens [XLM]

At press time, XLM was valued at $0.0995 with a market cap of $1.91 billion. The 24-hour trading volume of the coin was $403.06 million as it fell by 0.48% within an hour. In the past seven days, the coin surged by a minimal 0.85% and registered a growth of 1.39% in the past day.

Resistance- $0.1346

Support- $0.0750

Parabolic SAR indicated a bullish market as the markers aligned under the candlesticks.

MACD line is under the signal line, however, might undergo a crossover soon.

Relative Strength Index indicated that the buying and the selling pressures had evened each other out.



Conclusion 

According to the long-term charts of XRP and XLM, the market seems to be stagnating.

 





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Analysis

Ethereum [ETH] and Tron [TRX] Price Analysis: TRX tries to join ETH on the bull wagon

Arijit Sarkar

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Ethereum [ETH] and Tron [TRX] Price Analysis: ETH enjoys the bullish trend while TRX tries to join the bull wagon
Credit: Pixabay

The cryptocurrency market continued to consolidate after days of bullish movements. Tron [TRX] was back in the 12th position on CoinMarketCap and continued its sideways trend. Ethereum [ETH] maintained its market position as the market’s best performing altcoin.

Ethereum [ETH] 1-Day

Source: TradingView

The 1-day reading for Ethereum [ETH] showed that the altcoin enjoyed a strong bull market throughout the year, with no visible resistance to break. The cryptocurrency’s bull run was the strongest over the last week, enabling investors to enjoy a 38% growth in ETH value. Following the spike, ETH settled at $257.51, and held a market cap of $27.3 billion. It had a 24-hour trading volume of $11.8 billion, at press time.

Bollinger Bands: The upper and lower bands have been diverging over the month, suggesting high volatility and a bullish trend

Awesome Oscillator: On the other hand, the red histogram projections in the AO displayed a rising selling pressure for the ETH market

Relative Strength Index: The token continued to be traced across the overbought zone.

Tron [TRX] 1-Day

Source: TradingView

Resistance 1: $0.0308

Contrary to Justin Sun’s promise of TRX’s bullish future, Tron [TRX] witnessed a drop in its position owing to BSV’s brief pump, before the status quo was restored again. During the 24 hour reading, the coin grew by 1.58% and traded at $0.0286, with its resistance at $0.0308, at press time. It held a market cap of $1.9 billion and a 24-hour trading volume of $737 million.

MACD: The MACD line over the the reading line and suggested a bullish market for TRX

Chaikin Money Flow: The CMF plot hovered very close to the zero line, suggesting an equilibrium in the capital flowing in and out of the TRX market

Parabolic SAR: The alignment of the dotted markers below the candlesticks suggested a bullish phase for the market



Conclusion

Ethereum [ETH] continued to consolidate its position in the market, while Tron [TRX] was making progress in breaking from its perpetual sideways movement.





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