Stellar (XLM) is taking its weekly move towards bullish support. The bulls have started to move and the price is reiterating its desire to rise.
Bitcoin Cash grapples with the lack of demand after ATH. the price retreat is hardening.
Stellar (XLM) has been lacking the bulls since its peak at $ 0.61, and as the price surged during the day, it felt some bullish presence again. Although the asset fell instantly to $ 0.46, the situation seems to recover on the hourly charts. Stellar is experiencing a tightness in the $ 0.47 and $ 0.51 bands. Especially, this compression caused narrowing of Bollinger bands and a breaking movement may occur in the near future.
For XLM, this bullish move is an important sign. This indicator shows the willingness of the price to regain the bullish effect. Especially the RSI and MACD data on the daily chart were looking for a bullish opportunity. The price squeezing in a range and the suppressing action in the candles indicate its willingness to bounce. RSI data rose above neutral on hourly data.
However, in daily data, it fell from the overbought point. SAR data also suppresses the sales pressure on 4-hour and daily charts. This may increase the likelihood of the price being kept in range for a while and a breakout in the coming days due to the low volatility.
If this bullish move succeeds, the asset could go to the test to break the $ 0.56 partial resistance point. For the time being, its value on the moving average provides a support for it and the probability of it falling increases the likelihood of it being pulled to $ 0.41. The weekly move could rise above the $ 0.61 local peak in the event of a break, strong up to $ 0.7. The bulls will then set a target towards the psychological limit of $ 1.
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) has been in place in the market value ranking many times with different altcoin effects and has gained a very successful move, although it has been deprived of the interest of many investors. BCH, which was at the $ 400 mark just earlier this month, broke its own record and rose to $ 775 the other day. The bearish pressures may increase for the asset that has grown almost 100%.
The RSI and MACD, which are showing bullish signals on the hourly charts, give a negative impression on the daily and 4-hour charts. This situation, which worries about the price, makes us think that the price is far from a break for now, and the parameters that make this situation more critical are CMF and Balanced volume data. These data show a decrease in demand and volumes. The asset entering the oversold zone resulted in reduced demand. This is effective in breaking the price down.
For now, the asset, which is supported at $ 702, may go below this level. SAR data predicts sales, and pressure to drop below this level again may come from the bears. An asset that falls below the $ 639 limit value set in 14-day data can strengthen the possibility of entering a downward trend. The most important problem for BCH is currently the lack of volume and demand. Bull action must be seen. And if the weekly drop drops to $ 655, it could open up an opportunity for investment.