With Bitcoin finally breaking above $50K, altcoins also followed a northbound trajectory. Some altcoins, however, rallied independently. Filecoin was one of the top ten gainers in the market. With over 26% appreciation, the coin secured a multi-month high.
XRP also remained positive as it made over 6% gains. XLM logged a 6.2% rise, while attempting to test the $0.428 resistance mark.
XRP appreciated by 6.2% over the last 24 hours and was trading at $1.38. At this price level, XRP secured a multi-month high. The immediate price resistance stood at $1.42. Technical indicators pointed to a bullish momentum in the market.
MACD showed green bars on the histogram, indicating positive price action in the market. Relative Strength Index headed beyond the 75-mark, demonstrating overvalued conditions, after almost three weeks.
Awesome Oscillator noted amplified green signal bars. Negative price action could drag the prices down to $1.31, and then near the coin’s weekly low of $1.06.
The U.S. SEC’s lawsuit against Ripple is responsible for a mammoth share of the coin’s volatility. However, as per Whale Alert data, an anonymous wallet transferred above 205 million XRP to Ripple. This development, particularly, could have propelled the XRP prices .
Filecoin surged by a massive 26.6% over the last 24 hours. It was valued at $113.99 and secured a multi-month high. On its way up, Filecoin could meet with resistance at $117.77. The technical parameters remained bullish for Filecoin.
MACD showcased green bars on its histogram, after a bullish crossover. Chaikin Money Flow stood above the half-line, suggesting that capital inflows remained high. Awesome Oscillator flashed tall green signal bars and also was at a multi-month high.
Corrective price pullback would drag FIL to $97.87. Failing to sustain on the aforementioned price floor, the coin could rest on $82.57. The latter level had previously kicked off the rally.
Below the $82.57, FIL would trade near its one-month low price level. On-chain metrics also suggested positive outcomes with buying momentum drifting in the favor of buyers.
XLM marched up north by 6.1% over the last 24 hours. It was available for $0.406, while it attempted to trade near the overhead resistance of $0.428. XLM also recorded a fresh three month gain, standing at this price level. Key indicators displayed that the bulls were in charge of driving the prices.
Green bars on the MACD histogram, affirmed the same. Awesome Oscillator displayed green signal bars. Bollinger Bands widened, heightening the chances of market volatility over upcoming trading sessions.
If the bullish thesis is invalidated, prices would fall to $0.400. Below the mentioned price line, lay additional support for the coin at $0.381, 0.346 and 0.319. $0.319 is a long-standing support line for XLM, as prices did not go below that mark for the past four weeks.