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The altcoin industry has seen renewed positive momentum reach the market over the last day. With Bitcoin climbing the markets, many famous altcoins such as Stellar, Cardano, and VeChain saw their trading prices rise by up to 10%.
At the time of writing, BTC was trading at $52,748 after having seen its price rise by 6.22 percent in the past 24-hours.
Stellar is currently ranked 17th on CoinMarketCap, with a share price of $0.45 and a market capitalisation of more than $10 billion. XLM’s price has risen by more than 6% in the last 24 hours alone, and it is now on the verge of breaking through immediate resistance at $0.46. However, if the cycle continues to reverse, XLM may need to focus on the $0.41 price range for help.
Bollinger Bands are beginning to diverge again, signalling that the market will be more volatile in the next 12 hours. The RSI index seems to be improving as it transitions out of the oversold zone and into the overbought zone.
Cardano’s stock increased by almost 9% in the last day, and it was trading at $1.19 with a 24-hour trading rate of $2.8 billion. If the bullish trend continues, ADA will most likely reach the high support area about $1.28. The $1.07 price level is a high level of funding and was critical in ADA’s recovery.
The coin’s MACD predictor has undergone a bullish crossover, with the signal line falling below the MACD line. The RSI indicator has remained in the overbought range, indicating a bullish demand for ADA.
VeChain’s price experienced considerable positive traction and was priced at $0.19, and the coin is expected to encounter stiff resistance at the current level. If this price range is broken, VET will quickly hit $0.21. VET, on the other hand, will depend on its good support at $0.17 in the event of a pullback.
The EMA ribbons have stabilised directly above the present trading price and are likely to provide resistance to the upward trend. The MACD tracker has completed a bullish crossover, indicating that the short-term price increase is expected to proceed.