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With Bitcoin finally breaking above $50K, altcoins also followed a northbound trajectory. Some altcoins, however, rallied independently. Filecoin was one of the top ten gainers in the market. With over 26% appreciation, the coin secured a multi-month high.
XRP also remained positive as it made over 6% gains. XLM logged a 6.2% rise, while attempting to test the $0.428 resistance mark.
XRP has gained 6.2 percent in the last 24 hours and is now trading at $1.38. XRP has reached a multi-month high at this price level. The price resistance at the time was $1.42. The market’s technical indicators indicated a positive trend.
MACD displayed green bars on the histogram, signifying favourable market price activity. After nearly three weeks, the Relative Strength Index surpassed the 75-point barrier, indicating overpriced circumstances.
Awesome Green signal bars were enhanced by the oscillator. Negative price movement might drive the coin’s price down to $1.31 and subsequently to its weekly low of $1.06.
The U.S. SEC’s lawsuit against Ripple is responsible for a mammoth share of the coin’s volatility. However, as per Whale Alert data, an anonymous wallet transferred above 205 million XRP to Ripple. This development, particularly, could have propelled the XRP prices .
Filecoin has increased by 26.6 percent in the previous 24 hours. It was valued at $113.99 and reached a multi-month high. Filecoin may encounter resistance on its path up around $117.77. Filecoin’s technical characteristics have stayed optimistic.
After a bullish crossover, MACD displayed green bars on its histogram. Chaikin Money Flow remained above the half-line, indicating that capital inflows were strong. Awesome Oscillator showed big green signal bars and was also at a multi-month high.
FIL would be dragged down to $97.87 by a corrective price reversal. If the currency fails to maintain its position at the aforementioned price floor, it may fall to $82.57. Previously, the latter level had started the surge.
Below the $82.57, FIL would trade near its one-month low price level. On-chain metrics also suggested positive outcomes with buying momentum drifting in the favor of buyers.
XLM has risen by 6.1 percent in the last 24 hours. It was available for $0.406, and it attempted to trade near the $0.428 overhead resistance. At this price level, XLM has also recorded a new three-month gain. Key signs showed that the bulls were in control of the price movement.
The presence of green bars on the MACD histogram confirmed this. Green signal bars were displayed by Awesome Oscillator. Bollinger Bands have broadened, increasing the likelihood of market volatility in the following trading sessions.
Prices would fall to $0.400 if the bullish argument was proven to be false. Additional support for the coin is found below the indicated price line at $0.381, 0.346, and 0.319. $0.319 is a long-standing support line for XLM, as prices did not go below that mark for the past four weeks.