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Ethereum’s valuation has been declining, and the majority of altcoins have followed suit in their markets. Altcoins such as Stellar Lumens [XLM] and Cosmos [ATOM] have seen similar price increases.
The Ethereum price map above shows a price reversal at $2,172. On 22 April, the stock reached an all-time high of $2,674, since which it has been trending downward. The stock was nearing the $2,037 support level, but the market remained mildly bullish.
Despite the fact that the value of ETH was declining, the Bollinger bands indicated consistent uncertainty. The signal line, on the other hand, had remained undecided about its next pass. The sale has aided the digital asset’s return to the equilibrium zone from the overbought zone. This meant that the price was attempting to stabilise.
As the momentum fades, Ether can consolidate at its current price.
Stellar Lumens [XLM]
The Stellar Lumen [XLM] map indicated that the commodity had recently broken out of a long cycle of consolidation and was experiencing a boom. However, the market was unable to maintain its high valuation of $0.6982 and fell to $0.4199 at the time of publication.
Because of the asset’s erratic behaviour, bears have gained control, and the signal line has passed over the candlesticks. The relative strength index indicates that selling pressure is increasing at the moment. Meanwhile, the MACD line crossed below the signal line, indicating an increase in sellers in the market and a continuation of this trend.
The Cosmos [ATOM] market saw its valuation rise in February before entering a period of consolidation. Despite the fact that the rest of the market was seeing a correction, ATOM maintained its worth and started to drift sideways. ATOM was still trading at $18.25 at the time of publication, despite increasing selling pressure.
Support was solid at $16.44 and has been a market turnaround base. And if the sell-off drives the market to this help, there is a good chance that the pattern and price will reverse. The increase in selling pressure has moved ATOM below the equilibrium zone, but the demand remains bullish.
This was attributed to capital moving in the ATOM market, which was confirmed by the Chaikin money flow, which stayed far above zero, and ATOM’s price may shift around the current price level in order to achieve stability.