Stellar Lumens, STEEM, BAT, BitTorrent Price Movement Analysis for 6th April, 2021

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Since stabilising at $0.46 or even $0.434, Stellar Lumens are expected to climb above the $6 mark. STEEM was in danger of falling below the $0.95-support level, while BAT noticed an upside of $1.5 in the event of an upward breakout. Finally, BTT could slip to $0.0069 support before resuming its ascension to new highs.

Stellar Lumens [XLM]

The breakout of Stellar Lumens over $0.46 marked the end of a consolidation period and tipped the market in favour of the bulls. This was in line with plans, and a rise to $0.6 seemed very possible with buying momentum.

The Awesome Oscillator had the same behaviour, with the green bars continuing to rise past the equilibrium level. The 24-hour trading rate was also on the rise, approaching $5 billion. However, before XLM makes the next major leap, the RSI can settle below the overbought zone. This will demonstrate the rate of funding at $0.46 and $0.434.


Source: STEEM/USD, TradingView

STEEM was trading in the red, contrary to the wider market trend, when the price flipped $1.09 to a line of resistance on the 4-hour timeline. The 24-hour trading rate was inactive, and the OBV remained relatively low. The uptrend that took STEEM to its local peak of more than $1.25 may have reached its limit, and a consolidation process was likely to begin.

Prior to the pullback from the $1.24-resistance mark, the RSI displayed a bearish divergence. Lower highs were also not a good indicator for the stock’s short-term trend. A move into the oversold region could cause the price to fall towards the $0.83-support level.

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Basic Attention Token [BAT]

Source: BAT/USD, TradingView

Basic Attention Token surpassed the $1 mark for the first time since its inception in mid-March, breaking records at $1.3. What was also remarkable was that BAT retained this pace in the latter half of March, despite a breakout being resisted by the bears. During this timeframe, the support at $0.95 has been a crucial area, and further dips into this level could confirm its reliability as a buying point for long-term traders.

Meanwhile, BAT has been slowly gaining momentum for a break beyond its upper limit. Although the OBV was flat at the time of publication, it remained at higher levels. With purchasing pressure as a selling power, a breakout was almost impossible to stop. The ADX was pointing north from 22, suggesting a strengthening pattern. The bulls’ next goal is $1.5, which they could reach in the coming days.

BitTorrent Token [BTT]

Source: BTT/USD, TradingView

Although recent improvements in the BitTorrent Token market have been remarkable, a correction has been in the works for quite some time. This was clear because the RSI had been trading in the overbought zone for the previous seven days, an environment that usually suggests a pullback. Over the course of 24 hours, trade rates plummeted by more than half. Might this be the start of the end of BTT’s current upcycle? A bearish crossover in the MACD proposed as much.

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According to a recent report, BTT’s increase may have been triggered by File System changes, and traders may now be trying to book gains. Previously listed support amounts of $0.0078 and $0.0069 can be enabled in the coming sessions. If the bulls could avoid a prolonged sell-off, a rebound from the above lows seemed likely.


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