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A break above the $0.45-resistance level may cause Stellar Lumens to trade towards the $0.388 support level before the next leg upwards. At the time of publication, THETA was sending mixed signals. A bearish marubozu candlestick signalling an impending reversal, while the RSI’s bullish divergence created some hope. Finally, Aave is likely to recover from the 23.6 percent Fibonacci mark ($317.4).
Stellar Lumens [XLM]
After trading in the green, up 2% in the last 24 hours, Stellar Lumens was unable to crack through the $0.45-resistance. Failure to do so in the coming hours can cause it to revert to the 20-SMA (red) about $0.388 support. In the event of a breakout, XLM could see a 20% increase against its 200-SMA (green).
If the ADX falls more in the coming hours and falls below 25, expect any rangebound activity in a weakly directional sector. In reality, the flat-like movement of the OBV made such a result more obvious, as buying pressure nearly equalled selling pressure.
A single candlewick touched the $7.34 resistance level, but THETA was denied by the sellers. A bearish marubozu signalling a solid sell session, and THETA could drift southward in the coming hours. However, with the wider market’s consolidation, a breakdown from $4.95-5.18 was impossible.
A breakout over $7.34, on the other hand, was needed for a favourable outcome. A bullish divergence was seen on RSI after it developed higher lows, implying that bulls will be able to make a fast comeback. At the current market, the Supertrend Indicator has blinked a sell warning, with a stop-loss set at $7.56- only above the 50-SMA (yellow).
On Aave’s 4-hour table, the Fibonacci tool illustrated a few support/resistance levels. AAVE fell down into the 23.6 percent Fibonacci mark ($317.4) after failing to maintain its climb over 38.2 percent Fibonacci ($38.9). However, the 20-SMA (red) backed up this region’s security, and only a strong bearish market will result in a breakdown.
Bulls wanted to push the market past the 50% Fibonacci threshold ($439.5) to force a price increase. The RSI recovered from 40-42 support, and a bearish result is unlikely as long as this index does not break down. Meanwhile, according to the Chaikin Money Flow, capital inflows have remained high.