Stellar News: We are going through a very mixed period for the crypto market. While some cryptocurrencies continue to trade within a limited range, others rallies. XLM and Uniswap’s market capitalization rose 6.53% and 10.42% respectively. However, Synthetix’s market cap has dropped by 4.53% at the time of this writing.
XLM’s price action remains range-bound, while Synthetix is up 57% from last week.
Stellar Lumens (XLM) price analysis
XLM tried to break the critical resistance level at least three times after June 21, but failed to do so. It fell 5.6% in the last seven days and recorded a 0.2% loss in 24 hours. XLM’s consolidation led to a growing number of buyers in the market, with capital inflows rising in Chaikin Money Flow before falling once again.
The price is stuck between $0.251 and $0.286 and was last rejected on July 1 at $0.286. The Awesome Oscillator gave a short-term bullish signal, but a red signal bar was also found between the green signal bars due to the recent drop in price.
If the decline continues, the price could slide back to $0.251 and then to $0.233 soon. Regarding price volatility, Bollinger Bands are almost parallel, which indicates that sharp price action should not be expected.
Synthetix (SNX) price analysis
Synthetix’s recent rebound has been remarkable with a strong uptrend seen over the past few days. The asset’s valuation rose 57% in just one week. However, in a 24-hour period, the altcoin fell by 5.6%. Market bulls can push the price higher and resistance can be expected at the $13.90 level and then the $15 ceiling.
Volatility has been volatile lately. However, the Bollinger Bands may drop soon as they somehow closed on the charts. After being in the overvalued and overbought zone for a while, the Relative Strength Index showed that the buying pressure has dropped slightly.
The Parabolic SAR depicts bearish pressure as it appears above the candlesticks at the time of this writing.