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The crypto-market has had a turbulent year. While some coins have remained inside a narrow trading range, others have surged. The market capitalizations of XLM and Uniswap, for example, increased by 6.53 percent and 10.42 percent, respectively. However, as of press time, Synthetix’s market value had plummeted by 4.53 percent.
At the time, XLM’s price movement was range-bound, but Synthetix had risen by 57 percent in the previous week before corrections kicked in. On July 6, UNI finally broke over its critical barrier level of $21.54.
After the 21st of June, XLM attempted at least three times to break through its critical resistance levels, but failed each time. It has decreased by 5.6 percent in the previous seven days and by 0.2 percent in the last 24 hours. The consolidation of XLM boosted the number of purchasers in the market, with capital inflows rising on the Chaikin Money Flow before falling again.
The price remained trapped between $0.251 and $0.286, with the most recent rejection from the $0.286 level occuring on July 1st. The Awesome Oscillator depicted a short-term bullish signal, however due to the recent price decline, a red signal bar was also detected in between the green signal bars.
In a negative scenario, the price may quickly fall to $0.251 and then to $0.233. In terms of price volatility, the Bollinger Bands were virtually parallel, suggesting that rapid price movement should be avoided.
Synthetix’s recent rebound has been robust, with a significant upswing witnessed in recent days. In just one week, the asset’s value increased by 57 percent. However, the cryptocurrency had plummeted by 5.6 percent in the previous 24 hours. Bulls in the market might drive the price higher and expect resistance at the $13.90 level, followed by the $15 cap.
Volatility has recently been turbulent. However, because the Bollinger Bands were closing in on the charts, it might collapse shortly. After a period of being overpriced and overbought, the Relative Strength Index suggested that purchasing pressure had decreased significantly.
The Parabolic SAR marked the emergence of downward pressure as the markers were spotted above the candlesticks, at the time of writing.
UNI was trading at $22.83 at the time of writing, up 3.9 percent in the previous 24 hours. The token’s charts showed a rebound once it eventually broke over the $21.54 barrier mark.
According to the Relative Strength Index, the market’s buying pressure has grown significantly. At the time of publication, the crypto-asset was overbought, although there was also a modest reduction in purchasers. In line with this, the Chaikin Money Flow showed a modest decrease in capital inflows.
Because the dotted markers were discovered deep below the price candles, the Parabolic SAR indicated that an uptrend was still in play.