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Stellar Lumens (XLM) Experiencing Cautious Volatility

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The Stellar cryptocurrency was developed by the Stellar foundation used to trade between the Stellar networks. The Stellar with the native name ‘Lumen’ is used for trading as XLM. Due to the popularity of being a cross-border transfer and payment system, Lumen is considered one of the best performing altcoins due to its aim of developing economies by reducing transaction cost and time lags of transfer.

As per the recent data, Stellar is trading at a market cap of around $6,466,062,527. The circulating supply is spotted of 23.75 billion XLM coins. The chart shows that sudden downfall created a bullish engulfing green candle, indicating a tug war between bulls and bears. Bulls are on track with a green sign, which is a good sign for Stellar traders worldwide.

In the month range of August to September, it has created a bearish triple top pattern, which interrupted the uptrend and eventually hit the resistance. Then, it changed the direction to a downtrend, and the XLM price fell back to its area of support. The legal tender announcement of Bitcoin by EI Salvador made the entire crypto range into a plunge, which is also reflected in Stellar. On September 07, Stellar fell from its near-time swing high of $0.4241 to $0.3319.

After the worst fall of May 19 on the crypto market created the Stellar to end up with a short-term low of $0.201 which broken all the support. The long bearish engulfing candle has initiated the downward movement, which went up to the range of $0.2561 swing low. After the downtrend, the Doji on the technical chart created a slow rise in XLM, but the fastest transacting crypto cannot sustain its momentum. During the last week of September, Stellar has made a loss of around 9.29% for traders, followed by a decline of around 18.95% for the previous month.

On the daily chart after a bearish down track, a bullish green candle formed on September 29. Today, XLM opened at $0.2684 created a high of $.280268 which has broken the resistance of $0.28 on the chart. The upcoming resistance level of $0.30821 will be a big hurdle to cross for reaching the next high of $0.425643, which is very difficult for XLM in the near term.

Even though daily candlestick has formed green for the last two days, Stellar will find it difficult to continue the uptrend for the year due to the global volatility and economic conditions. European markets are up, but the US market and NASDAQ seem highly volatile, which also creates volatility in the crypto market. If Stellar price can sustain its momentum, this can create a high of $0.343887 in the near term. XLM needs to get a good momentum to reach its cautious resistance level of $0.4186.

XLM Price Analysis

However, as per technical setup, expecting Stellar to trade within the range of $0.2557671 to $0.4686750 for the upcoming months, if there are no positive announcements come in the crypto market, traders cannot expect a bullish momentum beyond this range. Till now, the technical setup has not been the path of a long-term bullish momentum.

Any bad news or volatility of the cryptocurrency market can create a pullback to the nearby support at any time. The chart set up is just a retracement until the next resistance range and can continue until the price of $0.308211 resistance range. Beyond which can expect an uptrend till the significant resistance.

The technical indicator set up is neutral MACD is about to cross the signal line. If MACD crosses the signal for the coming two trading sections, then stellar can get a relief that bulls have taken over the market. Relative Strenght Index is just entered into the buying zone of 41. But a clear-cut buy can be expected only after the bullish momentum is sustained as per Stellar Lumens price prediction.

XLM price prediction

The 15 minutes candle chart shows that Stellar has a parallel downward channel, a steep rise. After that, a slow parallel channel continuous downfall is not taken as a good sign. Stellar experienced a huge amount of volatility in the market bulls that cannot be sustained on intraday. The Bollinger bands are squeezing for the current trading session. Traders can watch the next resistance level as mentioned in the analysis and should be cautious on any downfall after that.

XLM coin price prediction

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What is Fuelling the Rally in DigiByte Cryptocurrency?

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The DigiByte ecosystem is built with an emphasis on speed and security, which are often identified as limitations on different blockchains. DGB uses a proof of work algorithm to validate and complete a transaction.

With a strong price action witnessed on DGB, we can expect it to reach 10 cents valuations shortly. The current DGB price is facing some resistance from its 100 DMA that has coincided with the wicks on daily chart candles.

DigiByte Price Analysis

One day chart with Support Levels, Resistance, Moving Average, and MACD indicator

DigiByte has an active support range at $0.0500 levels on the immediate downside and resistance at $0.0791 levels. In order to remain in trend there needs to be some profit booking or consolidation, straight-line upside momentum often carries the risk of sudden profit booking induced by some new development.

DGB is for now trading in a bullish zone with immense buying interest. The MACD indicator shows chances of the rally to continue without consolidating but, DGB should halt its rate of progression in between to continue with the upside movement. Its 100 DMA comes out at around $0.06252 levels.

One hour chart with Support Levels, Bollinger, and MACD indicator

DGB shows an immense increase in volumes over the last few hours indicating increased participation from buyers and sellers of this cryptocurrency. As MACD is nose-diving towards the red zone we expect some retracement from current levels and a second attempt at breaking the recent high created at $0.066 levels based on our DigiByte forecast.

Support on hourly charts comes out to be at $0.0579 with Bollinger Bands hitting newfound volatility. The widening of Bollinger bands indicates scope for higher volatility and continuation of the upside movement. For now, DGB seems to have taken support from the lower end of the mean average line and faces some turbulence at the mean average line indicated by red.

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TRON Negates the Fall in Valuation with Strong Buying!

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TRON has climbed huge mountains after its release in 2017 and has posted over 17650% of gains from its launch value in 2017 to September 2021. The value of TRX has undergone a huge change from $0.0022 levels to the current value of $0.9265 levels. TRON currently ranks amongst the top 30 cryptocurrencies with a market capitalization of over $6 billion with a circulating supply of 71 billion coins.

The value of Tron is straight forward a derivative of its exposed circulating supply and its potential. Comparing the numbers, TRON can process 2000 transactions per second compared to just six transactions per second of Bitcoin and 25 of Ethereum. Just comparing the numbers gives the transactional capability of TRX and its upscaling potential.

TRON has mostly focused on content creators and has used TRX coin as a way of rewarding content creators through its rewards. It even allows creators to develop their tokens and decentralize the gaming sector. Positioning itself as a content creator supporting ecosystem has enabled creators to connect directly with potential customers, eliminating centralized platforms. Considering the upscaling potential of Tron, people interested in investing here should hold their positions.

TRON Price Analysis

TRON retraced most of its lost value within a short time interval and is headed back towards $0.11 targets with a furious buying sentiment.

TRON Price Analysis

TRON underwent a surprise fall in its value within a concise time interval. The fall was responded with a huge buying action, almost equaling the selling volume on September 07 in the following day. TRON has once again jumped back to $0.0933. Surpassing the support zone will push the TRX price towards the close resistance of $0.11.

RSI levels have also jumped towards 52 from a steep decline, but the major uncertainty in sustaining the gains. If sellers activate their trades, we will witness a significant fall to the tune of its 100 DMA levels. As of now, TRON can be seen respecting its 200 DMA level of $0.08254. It is attempting a fresh price breakout but is more likely to close in an uncertain candle with wicks on both ends.

TRON price prediction

Hourly charts show consolidation as a large part of the trading action on TRX. It consolidates in a narrow range before giving a breakout and again consolidates within a narrow range. This price action is continuing, and there is a high probability of another breakout towards $0.100 levels. MACD on hourly trades has become positive again, and so has the RSI levels. RSI is now trading at above 50 levels. Combining all these indications and our TRX coin price prediction, one should hold their investments.

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MATIC: Can It Become the Bridge of Interoperability

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Polygon MATIC intends to resolve the problems of the Ethereum network to promote better incorporation of blockchain technology. Polygon came into play as Ethereum transaction fees increased to a level that started to affect scalability.

Polygon has also started to develop its network to support the Ethereum Defi Ecosystem. Another positive news coming in the Polygon counter is Mark Cuban’s unrevealed investment in Indian cryptocurrency, MATIC. This investment news at a time when all crypto counters are witnessing consolidation of profit booking has the potential to fuel another bull run MATIC.

In our MATIC price analysis, we have covered the technical chart and possible breakout zones, as this news can also cause a profit-booking by some. The only trouble to MATIC’s bull run could be ETH 2.0 scalability solutions launch. We know MATIC is working on building layer 2 solutions on the Ethereum network, hence it will be an interesting aspect to decide the future of MATIC.

Could MATIC Win the Ethereum Scaling Race?

Listing of the MATIC token on the Coinbase crypto trading platform has been a ground-moving reason for this cryptocurrency. The MATIC token is used as a transaction fee on all the dapps built using a polygon.

Polygon (MATIC) is currently emphasizing sustainable NFTs with the latest integration. Its Proof of stake mechanism offers better energy efficiency as compared to the Proof of work mechanism used by Ethereum. By moving the NFT transactions away from the main blockchain of Ethereum, Polygon is creating a sustainable market of itself.

The growth lead of Polygon even mentioned the prospects behind incorporating NFT as their blockchain network. Polygon joined the Polkastarter council on May 27, 2021, which is an independent authority that works on the selection process of Polkastarter IDOs. This can be a revolutionary event in scaling the value of the MATIC.

What does the Future Hold for the MATIC?

MATIC has a fixed token supply, a low market capitalization, and works on a network that is increasing its reach are some of the factors fueling further boost in this token. As of now, this cryptocurrency has become the 12th largest digital asset.

MATIC has moved up from the lows of $0.68 on 1st May to $2.89 on 19th May. The volatility of every cryptocurrency is the result of major profit booking and coin dumping. But even so, how does the MATIC coin price prediction fare with the expectation of the crypto-enthusiasts.

MATIC coin price prediction

MATIC price is currently trading well above all its important moving averages. There is a significant movement, which has pushed this coin over the $2 range twice. Currently, the price action is respecting its 30-day moving average. This cryptocurrency has been trading well above its important moving averages. Even in the short term support level of 30 days moving average.

If it fails to take support from its 7 days moving average, the prices could plummet to the $1.3 range. Although given its price action, such a level would be a good buying range. In the long run this coin seems positive as it is respecting the important levels.

MATIC News

Polygon Matic has been witnessing some stiff resistance near its all-time high. Earlier on May 19, the MATIC price fell from the same range during the profit booking session across the crypto market. MATIC coin, however, rebounded from just below $1 valuational to reclaim its previous high.

As evident from the chart patterns, the $2.45 levels will be instrumental for this crypto to reach new heights. There seems to be a support building near its last resistance levels, but any sell-off can push this coin back to the $0.80 range.

RSI indicator is also closing the oversold zones, indicating some weakness in the short term. A rebound from these levels can push MATIC to battle the stiff resistance around $2.45 and test its all-time high.

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