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BitTorrent Token has stabilised above $0.0075. Stellar Lumens encountered opposition around $0.63 and was trading in an ascending channel. Finally, Theta has established a bull pennant, and a break over $12.8 could take it to $15.
BitTorrent Token [BTT]
After its peak of $0.013 earlier this month, BTT has been steadily declining. BTT discovered demand in the $0.0073-$0.0075 range and was able to converge between the $0.0075-support and $0.0088-resistance levels.
The OBV was forming higher highs even though the market was making lower lows, implying that bulls wanted to buy even as BTT checked $0.0075 several times. This demand could materialise in BTT’s recovery over the next few weeks, if not sooner. According to the Awesome Oscillator, momentum was on the brink of shifting back in favour of the bulls at the time of publishing.
Stellar Lumens [XLM]
For the past few days, XLM has been traded inside an ascending channel (blue). On the hourly map, there was a bearish difference between price and momentum (orange), which caused XLM to fall from $0.69 to $0.6.
It found some interest in the $0.59-$0.6 range and saw a rebound, during which it encountered resistance at the $0.63 mark, the 23.6 percent retracement level. Beyond this degree of resistance, the channel’s midpoint represented a complex level of resistance for XLM bulls to conquer.
The MACD was below the zero line at the time of writing, but it had developed a bullish crossover and was going north, indicating some upward movement behind XLM in recent hours.
As the market gained momentum for its next leap, THETA established a bull pennant. The recent selling pressure on BTC caused THETA to fall below the pennant and challenge the $11.46-support mark, but there was some demand at the support.
A break over the $12.5-$12.8 area will possibly signal a return to $15, with the alt reaching as high as $17. The RSI oscillated between 40 and 60, indicating that THETA did not yet have strong momentum.