Nano, STEEM, Stellar Lumens Price Movement Analysis for 31st March, 2021

Spread the love

 220 Interactions,  2 today

At press time, Nano had reclaimed the $4.69 mark but was still trading rangebound. STEEM has restored its upward trajectory after falling to the $1.08 support level. Stellar Lumens was dismissed over $0.40, but a jump above that amount would result in extended gains up to the $0.43 upper limit.

Nano [NANO]

Nano was able to reclaim the $4.69 level after recovering from the $4.1 support level. As the price pushed rangebound throughout March, its press time channel acted as a region of equilibrium between buyers and sellers, with breakouts easily negated by opposing sides.

As NANO regained lost ground, the ADX settled around 26 and mirrored the market’s bullish power. A drop in the same, on the other hand, will see the price resume its rangebound action on the map. The Awesome Oscillator, on the other hand, recorded two red bars as momentum shifted to the bearish side.

RECOMMENDED READ:  Anthony Scaramucci outlines his new Bitcoin fund, discloses initial $25 million investment during interview

STEEM

Source: STEEM/USD, TradingView

STEEM reported a strong uptrend on the 4-hour timeline after breaking out of a consolidation period over the last week. Gains over the last seven days totalled 78 percent, with the price rising from less than $0.5 to a local average of more than $1.3. At the time of publishing, the market had stabilised and resumed its upward trajectory after slipping to the $1.08-support mark.

While the RSI indicated lower-level stability, it was pointing north, implying a delayed stay in the upper field. In the event of a small pullback, the press time help will most likely deter more losses. Meanwhile, the Chaikin Money Flow indicator moved above the half-line, indicating significant capital inflows into the crypto-asset.

Stellar Lumens [XLM]

Source: XLM/USD, TradingView

The late-February market pullback resulted in the appearance of a solid support line for Stellar Lumens at $0.35. This barrier has been checked again in the last week and has proven to be effective in defending a sharper fall. Although the alt’s price quickly recovered from its most recent drop, bears refused the price above $0.4, and XLM settled just below that amount.

RECOMMENDED READ:  BAT, Tezos, Zcash Price Movement Analysis for 31st March, 2021

As the market broke above $0.40, retested the mark, and flipped it to a line of resistance after reversing the trajectory, a bearish crossover in the MACD stopped the upwards trajectory. Meanwhile, the RSI moved north from 50, indicating a bullish presence in the industry. The bulls’ next goal will be the upper limit of $0.43.

Leave a Reply

Contact Us