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A hike in volatility could push Stellar Lumens above its $0.46-resistance level, but trading volumes would need to rise sharply first. Aave required a pickup in capital inflows to rise above the 50% Fibonacci level. Finally, a bearish divergence could see XVG lose out to the 38.2% Fibonacci level over the next few trading sessions.
Stellar Lumens [XLM]
While short-bodied candlesticks demonstrated consolidation in the Stellar Lumens market, the Bollinger Bands were expanding at the time of writing. This caused price fluctuations to increase as volatility was on the rise. The 24-hour trading volumes, which had already been collected at the time of writing, may provide more guidance on the price increase in the coming sessions.
The MACD noticed that the price was bullish, as the fast-moving line remained above the Signal line, even though the histogram reported some choppy movement. Both eyes will be on the support level at $0.46, a level that could be toppled if the wider market surge manages to drive XLM up the list. Conversely, a pullback could be cut short at the $0.39 support mark.
In the last 24 hours, Aave increased by more than 6 percent, but remained below the 50 percent Fibonacci retracement mark at the 4-hour timeframe. This may have been a reflection of the lack of purchasing pressure on the market, as bears quickly refused to step above the above listed amount. The lack of purchasing pressure was also visible on the On Balance Volume after it had flattened on the charts.
The Chaikin Money Flow underscored a good market association and showed that capital inflows were responsible for the rise of AAVE over 38.2 per cent of Fibonacci. If the market needs to break its overhead resistance, the index will have to speed up again.
Using peaks and lows of $580 and $280, some significant Fibonacci retracement levels were illustrated in Verge’s 4-hour map. In particular, the 50 per cent and 38.2 per cent retracement levels created a clear confluence with the price, as XVG stayed between the two levels, amid a wider market rebound. In reality, the Awesome Oscillator created a bearish discrepancy with the price after lowering the highs in the last few sessions.
In the other side, the On Balance Volume pictured purchasing at various amounts as the cryptocurrency bounced back from the $0.015 help. A bearish situation will definitely see XVG losing to bears at 38.2% in the short term.