Stellar Lumens, Aave, Cosmos Price Movement Analysis for 11th April, 2021

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Stellar Lumens moved within a bull flag pattern, but the pattern may be reversed if $0.58 -help is not sustained. Aave required stronger signals to break above its 200-SMA, while ATOM was likely to stay below its upper limit of $22.6 in the short term.

Stellar Lumens [XLM]

The Stellar Lumens market gained 41% in a week, when the stock has been on a solid uptrend since bouncing back from the $0.478 level. However, the market shifted to a bearish bias, which was more visible on the 1-hour charts. As XLM fell below $0.604 support, a series of red candlesticks emerged.

However, the action remained within a bull flag trend, suggesting that a positive result was likely in the coming sessions. This is conditional on the bulls defending the next line of defence at $0.58. A positive result could push the price up to $0.7. An prolonged sell-off, on the other hand, can be countered at $0.542-support (coincides with 50-SMA) or $0.478-support (coincides with 200-SMA). The MACD was showing a bearish crossover at the time of publishing, whilst the RSI was pointing south from 57.

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Aave [AAVE]

Source: AAVE/USD, TradingView

On the 4-hour timeframe, Aave remained below its 200-SMA (green), and the indicators reflected some neutrality in the current price of $368. Since slipping in recent days, the ADX has flattened below 25. The RSI remained at 47 and did not actively support either the bulls or the wolves.

On the plus hand, 24-hour trading volumes increased marginally, but more was needed to accumulate for a large price swing. When the swing occurs, losses will be limited to the upper limit of $422.7.

Cosmos [ATOM]

Source: ATOM/USD, TradingView

On the 4-hour timeframe, a malfunction from an ascending channel caused Cosmos to fall below $20.7-support. At the time of publishing, the stock had bounced back from this stage and was attempting to break the $21.7 resistance level.

The OBV has been trending higher in recent sessions, and while buying momentum would definitely aid in a price push, the MACD was less positive. If the Signal line continues to rise over the fast-moving line, ATOM will stay below the upper limit of $22.6. Furthermore, low trade rates ruled out the prospect of a big price swing, at least in the short term.

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