Stellar experienced a stir during the day. For the asset rising as high as $ 0.42, the $ 0.5 level could come.
Although Polkadot (DOT) has seen a decline in its daily activity, we see it holding on to its main support point. The upcoming days may rise.
Cardano reached the level of $ 0.71 and took 4th place, replacing Ripple.
Stellar (XLM), which has given itself between $ 0.30 and $ 0.36 since the beginning of February, has managed to get out of its consolidated status as of yesterday. This rise, which came with the height of the bullish effect, tested a re-climb to $ 0.42. The asset, which is hovering a little above $ 0.38 at the time of writing, can catch up again with the effectiveness of bullish activity, and with the ability to exceed the $ 0.403 band and hold.
As we mentioned in the article we wrote on February 3, the 0.50 dollar band is not a remote possibility for Stellar. In particular, its rival Ripple’s good assessment of the market gap created by the SEC case and the newly announced USDC cooperation succeeds in attracting new investors to its own ecosystem. However, if there is a rejected value from the given level, there could be a pullback of $ 0.34 for XLM. This withdrawal is not considered a negative result. It should be considered as a necessary step for a strong rise.
Another point to look at for the trend is its moving average. The value that hovers above the 20-day moving average data, even if it returns from the resistances, is a parameter that increases trend hope. However, XLM value, which will be under the EMA, will continue to decrease and will decrease the probability of the trend.
Considering the bullish presence, bullish odds for XLM may be strengthened in the coming days. MACD, RSI and CMF indicators are also in the positive regions. Stellar is one of the valued assets of the day with a value of 7.5% during the day. At the time of writing, it was traded at $ 0.38.
DOT, which had a strong breakout in the first week of February, managed to go above $ 21 thanks to the bulls. This value, which came after the breaking of the previous $ 19.35 resistance point, resulted in a fall back due to the inability to hold. There are some points to be optimistic about the asset that occasionally falls below the resistance point. We see that the bull activity strives not to drop the DOT below $ 19.35. The importance of this investor support for the asset is immense. In this situation where sales pressure is low, a suitable environment for an increase can be supported.
DOT needs to break the $ 21.6 resistance point that will bring the uptrend back to life. Exceeding this level, with the persistence of bullish presence, makes the $ 24, then $ 29 band ideal for DOT in the first phase.
Looking at the average of exponential movements, the value that falls below $ 18.2 may accelerate the withdrawal process of the asset. This will lower it to a new fluctuation range for the asset. It is undesirable for the asset that can decline up to $ 14.
A contraction is observed in the Bollinger bands during the day. It can be said that there is a pessimistic investor mass, which shows that purchases and sales are currently stagnant. The value that instantly bounced outside the lower band is likely to experience a recovery up to the $ 20 level. RSI data also draws attention to pessimism. We cannot say that it is a suitable environment for buying and selling. It is useful to wait a little. Bull activity is important in the coming days. If sales pressure occurs, decreases can be observed. However, considering that the DOT value experiences a narrowing in the decreasing increase channel, a break on the channel may trigger the beginning of the trend.
Cardano (ADA) is one of the best performing assets of the week. Throughout the week, it gained significant success by gaining almost 70% total value. The last development was that it reached the level of 0.71 dollars with an increase of 25% during the day. However, the rooted asset Ripple (XRP) has taken the 4th place.
The asset, which emerged from its consolidated effect for a few days at the beginning of February, with the acceleration it experienced on February 4, finally rose to happy points. As high as $ 0.71, the asset accelerated its rise as a series of resistance breaks. Overcoming the $ 0.5 resistance first, ADA is looking for another breakout for bullishness.
It was watching as the news was written at just over $ 0.61 from the support levels. At this level of support, ADA bulls are pressuring to hold onto the price. If we take a look at other support points, $ 0.52 and $ 0.49 are important points. If the decline continues, it will be necessary to follow these points.
On the other hand, the high resistance points for ADA, 0.678 and $ 0.705, are the points to be tested for the uptrend. With the testing of the values in the Fibonacci corrections, the increase of up to $ 1 was also accompanied.