Connect with us

Analysis

XRP and Stellar Lumens [XLM] Price Analysis: Tokens fall prey to bear’s fury as market falls

Biraajmaan Tamuly

Published

on

Source: Pixabay

XRP and Stellar Lumens [XLM] collectively fell prey to the bear trap as the tokens plummeted massively in valuation. At press time, XRP suffered an 8.30 percent decline in growth and the token was priced at $0.299. The market capitalization also took a hit, slumping down to $12.54 billion.

XLM suffered a similar fate after it experienced a decline of 7.64 percent against the US Dollar. The trade volume garnered was around $249 million and the token was valued at $0.104.

XRP one-day chart

Source: Trading View

XRP’s one-day chart showed that the token underwent sideways movement between the resistance line of $0.367 and $0.291. The uptrend extended from $0.326 to $0.3654 and the downtrend followed, devaluing the token from $0.3659 to $0.324.

The Bollinger Bands indicated a volatile period for the token as the bands were diverging in the market.

The Fisher Transform line exhibited a bearish trend for the token as the red line remained above the blue line.

The MACD line also pointed towards a bearish trend as the blue line hovered under the red line.

XLM one-day chart

Source: Trading View

XLM’s one-day chart exhibited a major uptrend, extending from $0.088 to $0.1331. The improved valuation took a hit as the price plummeted from $0.1351 to $0.1181. The resistance line remained at $0.135 and the support line was scaled at $0.074.

The Parabolic SAR indicated a bearish trend for the token.

The Relative Strength Index remained neutral, but the selling pressure slightly dominated the buying pressure.

The Chaikin Money Flow line was under the zero line, indicating that the capital entering the market was minimal.



Conclusion

All the aforementioned indicators suggested that the tokens were in for a bearish trend in the near future.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

Analysis

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

Yash Rajan

Published

on

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.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending