Connect with us

btcusd

Stellar (XLM) Shows Strong Recovery From Recent Slide

Published

on

Stellar (XLM) Shows Strong Recovery From Recent Slide

Stellar (XLM) has seen a stunning turnaround after the recent market downturn. However, following the announcement of the CPI report and corresponding fears of an interest rate hike, a sell-off ensued.

The Donchian channel indicates that the average price of XLM is $0.1076 as of this writing. After a drop, the Awesome Indicator also gives off very strong bullish signs.

This could signal a rebound. The XLM market has showed a spectacular recovery from the September 13 catastrophe, with prices climbing back above the $0.1004 support line that sustained the downturn from August 14 to September 6.

At the 4-hour time mark, the coin is following an uptrend. Looking at the wider picture, however, we see that the upturn may be short-lived.

Advertisement

Stellar Rally Gives Investors Some Confidence

The XLM token closely tracks Bitcoin’s price movements because the whole cryptocurrency market is modeled after it. The downward pressure of the triangle indicates that the coin’s motion is heading in a downward direction.

Price levels of support and resistance were calculated using the Fibonacci retracement tool. The bulls are attempting to leverage two supports located at $0.1023 and $0.1058.

These two factors have bolstered traders’ and investors’ optimism, which has contributed to the price increase.

The range of $0.1153 represents the resistance level. If price momentum overcomes this resistance, the price might rise to the $0.1234 region. This can be a strong purchase signal for investors and traders.

Indicator of momentum also demonstrates bullishness. In addition to purchase signals, moving averages are currently sending buy signals. For the market to rebound, however, bulls must have sustained momentum in order to surpass the $0.1194 and $0.1234 resistance levels.

Advertisement

Looming Interest Rate Hike To Determine XLM Price

Even for the broader cryptocurrency market, this can be a challenging issue. As previously indicated, XLM and other cryptocurrencies on the market share a strong correlation with Bitcoin which, in contrast, tracks the S&P 500 Index.

In light of this, XLM’s mini-rally could be imperiled if larger financial markets continue to fear an impending interest rate hike. The XLM price is already struggling to surpass the $0.1153 barrier level.

From the 10th until the 13th of September, the coin has already tested the specified resistance level. The coin is trading close to the resistance level of $0.1153 at the time of writing.

The presence of long candles on the charts may signal another attempt to break out of a trading range. If the price falls again, it should not breach the $0.1023 support level, since doing so could spark a bigger sell-off.

Advertisement
XLM total market cap at $2.8 billion on the daily chart | Source: TradingView.com    Featured image from Zipmex, Chart: TradingView.com    (The analysis represents the author's personal views and should not be construed as investment advice).

Bitcoin

Has Bitcoin Price Broken Out Of Downtrend Resistance? BTCUSD Analysis October 6, 2022

Published

on

Has Bitcoin Price Broken Out Of Downtrend Resistance? BTCUSD Analysis October 6, 2022

Tony Spilotro

I’m Tony Spilotro. Behind the pseudonym, I’m a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck – literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn’t yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can’t yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Advertisement
Advertisement

Continue Reading

Bitcoin

TA: Bitcoin Price Breaking This Confluence Resistance Could Spark Strong Surge

Published

on

TA: Bitcoin Price Breaking This Confluence Resistance Could Spark Strong Surge

Bitcoin price is showing positive signs above $20,000 against the US Dollar. BTC could start a strong surge if it clears the $20,500 resistance.

  • Bitcoin is gaining pace above the $19,800 and $20,000 resistance levels.
  • The price is trading above $20,100 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could gain bullish momentum if there is a clear move above the $20,500 resistance.

Bitcoin Price Remains Supported

Bitcoin price attempted an upside break above the $20,500 resistance zone. However, BTC struggled near the $20,450 zone and started a downside correction.

There was a move below the $20,000 support zone, but the price remained supported well above the 100 hourly simple moving average. It traded as low as $19,754 and recently started a fresh increase. There was a clear move above the $20,000 and $20,200 resistance levels.

Bitcoin price climbed above the 50% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. It is now trading above $20,100 and the 100 hourly simple moving average. Besides, there is also a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC/USD pair.

It also cleared the 76.4% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. On the upside, an immediate resistance is near the $20,450 level. The next major resistance sits near the $20,500 zone.

Advertisement

Source: BTCUSD on TradingView.com

A proper close above the $20,500 resistance might start another increase. In the stated case, the price could even surpass the $21,000 resistance zone. In the stated case, the bulls might aim a move towards the $22,000 level.

Dips Supported in BTC?

If bitcoin fails to rise above the $20,450 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,200 zone.

The next major support is near the $20,100 zone and the trend line. A downside break below the trend line might send the price towards $19,750. The main support is near $19,500, below which the price might start a steady decline.

Advertisement

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $20,200, followed by $20,000.

Major Resistance Levels – $20,500, $21,200 and $22,000.

Advertisement

Continue Reading

Bitcoin

Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022

Published

on

Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022

Tony Spilotro

I’m Tony Spilotro. Behind the pseudonym, I’m a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck – literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn’t yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can’t yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Advertisement
Advertisement

Continue Reading

Top posts

Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations
1 million BTC4 hours ago

Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations

On October 7, 2022, a bitcoin supporter named Jim Blasko explained that he discovered the oldest upload of Bitcoin’s version...

Bankruptcy Court Publishes 14,000 Pages Of Celsius Customer Usernames And Trade History Bankruptcy Court Publishes 14,000 Pages Of Celsius Customer Usernames And Trade History
Alex Mashinsky9 hours ago

Bankruptcy Court Publishes 14,000 Pages Of Celsius Customer Usernames And Trade History

The crypto community is upset about a recent discovery stemming from the Celsius bankruptcy case as a court filing has...

Chiliz [CHZ] on-chain metrics to consider before going long this week Chiliz [CHZ] on-chain metrics to consider before going long this week
Altcoins11 hours ago

Chiliz [CHZ] on-chain metrics to consider before going long this week

CHZ is among the cryptocurrencies that have delivered the most gains recovering from June lows. It just concluded a 25%...

EU Bans Crypto Services For Russians In New Sanctions Over Ukraine Escalation EU Bans Crypto Services For Russians In New Sanctions Over Ukraine Escalation
annexation11 hours ago

EU Bans Crypto Services For Russians In New Sanctions Over Ukraine Escalation

An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU....

The Hideaways Confirms Another Price Rise! Will Dogecoin Explode In 2023? Will LUNA Explode In 2023? We Take A Look At All 3 Projects. The Hideaways Confirms Another Price Rise! Will Dogecoin Explode In 2023? Will LUNA Explode In 2023? We Take A Look At All 3 Projects.
Uncategorized11 hours ago

The Hideaways Confirms Another Price Rise! Will Dogecoin Explode In 2023? Will LUNA Explode In 2023? We Take A Look At All 3 Projects.

The weekend was good so far for Dogecoin (DOGE) holders as DOGE price surged to make a new weekly high....

Why This Coin Is Still Attracting Terra (LUNA) And LUNA Classic (LUNC) Investors Why This Coin Is Still Attracting Terra (LUNA) And LUNA Classic (LUNC) Investors
Terra11 hours ago

Why This Coin Is Still Attracting Terra (LUNA) And LUNA Classic (LUNC) Investors

Over the last few weeks, the performance of the Terra (LUNA) and LUNA Classic (LUNC) coins has been very volatile....

Will This Coin Be The Ethereum (ETH) And Ripple (XRP) Killer? Read More Will This Coin Be The Ethereum (ETH) And Ripple (XRP) Killer? Read More
Bitgert11 hours ago

Will This Coin Be The Ethereum (ETH) And Ripple (XRP) Killer? Read More

If you have been around the crypto market for a while now, you must have come across Bitgert (BRISE). The...

Artificial Intelligence Market Size To Reach US$407 Billion By 2027 Artificial Intelligence Market Size To Reach US$407 Billion By 2027
Latest News12 hours ago

Artificial Intelligence Market Size To Reach US$407 Billion By 2027

The artificial intelligence market size is driven by big data, cloud applications, and services Artificial Intelligence is inarguably the most...

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes
Bankruptcy12 hours ago

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes Samuel Wan · 26 seconds ago · 2 min...

Best New Crypto To Invest In? The Hideaways Up 450% And Going Strong As LUNA And LUNC Drop Best New Crypto To Invest In? The Hideaways Up 450% And Going Strong As LUNA And LUNC Drop
Uncategorized12 hours ago

Best New Crypto To Invest In? The Hideaways Up 450% And Going Strong As LUNA And LUNC Drop

LUNA and LUNC’s prices surged again recently, creating new weekly highs before the market experienced a pullback. Investors have been...

Mortgage Interest Rates Today, October 7, 2022 | Rates Go Up Mortgage Interest Rates Today, October 7, 2022 | Rates Go Up
rates12 hours ago

Mortgage Interest Rates Today, October 7, 2022 | Rates Go Up

Advertiser Disclosure Jason Stauffer Jason Stauffer Staff WriterAdvertisement Jason Stauffer is a personal finance reporter who previously covered the housing...

Binance resumes BSC bridge operation after 2M BNB exploit Binance resumes BSC bridge operation after 2M BNB exploit
Exchanges13 hours ago

Binance resumes BSC bridge operation after 2M BNB exploit

Binance resumes BSC bridge operation after 2M BNB exploit Christian Nwobodo · 41 mins ago · 2 min read The...

Crypto Exchange Okx Blocked By Russia’s Telecom Watchdog Crypto Exchange Okx Blocked By Russia’s Telecom Watchdog
ban13 hours ago

Crypto Exchange Okx Blocked By Russia’s Telecom Watchdog

Russian media and communications regulator, Roskomnadzor, has restricted access to the website of a major cryptocurrency exchange, Okx. The trading...

Grifters rug over 60 ETH from spoof token created after Binance exploit Grifters rug over 60 ETH from spoof token created after Binance exploit
Binance14 hours ago

Grifters rug over 60 ETH from spoof token created after Binance exploit

Grifters rug over 60 ETH from spoof token created after Binance exploit Oluwapelumi Adejumo · 3 hours ago · 2...

CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000 CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000
Featured15 hours ago

CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000

CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000 Monika Ghosh · 3 hours...

Scammers Are Targeting Cryptocurrency Scam Sites To Hijack Their Targeted Audience Scammers Are Targeting Cryptocurrency Scam Sites To Hijack Their Targeted Audience
Best Practices15 hours ago

Scammers Are Targeting Cryptocurrency Scam Sites To Hijack Their Targeted Audience

Cryptocurrency scam sites are being targeted by other scammers to hijack their traffic and their possible earnings. A recently detected...

Fully funded Chevening Clore Leadership Scholarship 2023/2 Fully funded Chevening Clore Leadership Scholarship 2023/2
Scholarships15 hours ago

Fully funded Chevening Clore Leadership Scholarship 2023/2

A Fully funded Chevening Clore Leadership Scholarship 2023 is currently ongoing for qualified international students. This scholarship programme is aimed...

Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand For Exposure To Digital Assets Beyond BTC’ Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand For Exposure To Digital Assets Beyond BTC’
bitcoin etf17 hours ago

Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand For Exposure To Digital Assets Beyond BTC’

A filing with the U.S. Securities and Exchange Commission has shown that Fidelity looks to launch an investment product known...

Trending

Free Bitcoin MiningEarn from $50 to $75 daily with just your phone