On an intraday chart, stellar has recorded a strong selling pressure that has led to a dip in the volatility level. XLM/USD pair began the sell-off yesterday trading at $0.0717 that was followed by a steep fall that fluctuated the price down to closed at $0.0680 where it later tested the support level near $0.0682.
The bulls tried and recovered some momentum afterward and exhibiting a cumulated hike up to a high of $0.0725 that tested the significant resistance level at $0.0719. However, sellers rejected the price suggested by the buyers and dropped the price where it closed at $0.0708. A steady flow was later seen that rallied to the current price at $0.0697.
Additionally,the intertwined moving averages confirmed a sideways trend. The RSI indicator has currently flattened that signals equality and indecisive is the market.
At the press time, the 7 day MA has crossed above the 21 day MA that signals a bullish outlook. A break above $0.07200 is most likely.
Just like XLM, EOS has also exhibited a sideways momentum. The price seemed to fail to trade above the $3.6934 resistance level; instead, it has traded through the intraday between $3.6900 and $3.4706 respectively. EOS/USD pair has also succumbed to a massive volatile movement that dipped the momentum from where it began the sell-off trading at $3.6404 to a low of $3.4512.
The RSI indicator that was seen at around 20:00 in the negative zone (oversold territory) also reflected the fall. The market, later on, showed recovery as the price was fluctuated upwards to rally to a high of $3.7754 where it later faced rejection that dipped to the current price of $3.6202. This translated to a slight decrease of 0.06% over the last 24hrs.
Additionally, the coin does not signal much hope since the RSI is currently trading flat with the presence of Doji candles that signal a lack of dominance in the market momentum.
Despite the selling pressure that has led to the slight dip of EOS, a bullish outlook is anticipated. Mainly because the moving averages suggest so. The 7 day MA has to manage to cross above the 21 day MA; thus, a break above the $3.6934 is likely. New targets should be set at $3.7500.
By the time of writing LTC/USD pair had slightly dropped by 0.6%, having escalated from $73.8946 to now changing hands at $73.4329. The coin seemed to have faced high volatility. In addition, the market momentum was first dipped to trade near a critical support level at $71.0095. This was followed by a sharp upsurge that shifted the momentum to test the resistance level at $75.0790.
However, the trend was sideways as reflected by the horizontal channels and the intertwining moving averages. The RSI indicator is currently heading south that indicate sellers are in control.
The 7 day MA is now trading above the 21 day MA that signals a bullish sign. A break above the $75.0000 may hike further upward rally near $76.0000.
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Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
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