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Aave was not yet able to break through the $457 barrier, and advances in the Chiliz market could be limited to $0.7. Finally, Nano was traded in a descending channel, and a breakout could occur near its 200-SMA. Stellar Lumens has broken north from its descending channel, and the $0.604 support level could be in sight until the next upswing.
If Aave broke out above $390.4, market losses were restricted to the $420.7 resistance range. Since the late February pullback, the aforementioned resistance has normally served as a sale platform, and AAVE did not seem to be able to ascend above it just yet.
The OBV has been trending lower in recent sessions as selling volume has outpaced purchasing volume. Overall, the OBV has fallen since mid-February, explaining the market’s gloom. The MACD did rise beyond the half-line, but its histogram indicated declining momentum and a decline in bullish activity. A drop all the way to $301 could provide traders with long opportunities.
While an ADX reading of 32 indicated a positive trend in the Chiliz industry, profits were limited to $0.57. The unexpected price increase was accompanied by healthy 24-hour trading rates that were up by 224 percent at the time of publishing. However, price momentum was projected to stay largely inside the $0.57 to $0.36 range, and the market anticipated more positive signals to rise above $0.7.
Since mid-March, the OBV has been trending lower, and this must improve if CHZ is to complete its rebound to mid-March stages.
After the price was rejected at the $6.42 upper limit, a descending channel emerged on Nano’s 4-hour chart. As the price approaches its 200-SMA, the next few sessions may be critical to its short-to-medium term trajectory (green). If the bulls can hold the $5.13 support, a breakout is likely (coincides with 200-SMA).
The MACD was on the verge of falling below the half-way point, whilst the histogram showed increasing bearish momentum. Even the ADX fell below 25 as the market’s bullishness faded. A break below the 200-SMA could result in more losses all the way to $4.1.
Stellar Lumens [XLM]
Stellar Lumens broke out of an ascending channel, and the price increased by 7% after bouncing back from the $0.580 support mark. The narrative for XLM seems to have changed after the breakout of $0.43. During most of March, the price remained rangebound, but the last few weeks have been very bullish.
During the current rally, the OBV developed higher lows, and buying momentum will begin to drive XLM north. After settling at 68, the RSI also indicated a bullish demand. The support at $0.604 could be in sight until the next upswing.