XRP and Stellar Lumens [XLM] Price Analysis: Bears maintain stronghold on tokens as prices fall

2019-5-8 15:30

XRP and Stellar Lumens [XLM] collectively fell prey to the bear trap, with the tokens plummeting massively in valuation. At press time, XRP suffered a 1.87 percent decline and was priced at $0.311. The market capitalization also took a hit, slumping down to $12.6 billion.

XLM suffered a similar fate after it experienced a decline of 4.54 percent against the US Dollar. The trade volume amounted to $207 million and the token was valued at $0.096.

XRP one-day chart

Source: Trading View

XRP’s one-day chart showed that the token underwent sideways movement between the resistance line of $0.367 and $0.291. The uptrend extended from $0.323 to $0.365 and was followed by a downtrend, pulling down the price of the token from $0.366 to $0.317.

The Bollinger Bands indicated a volatile period for the token. However, the bands were converging, implying reducing market volatility.

The Fisher Transform line witnessed a bearish trend for the token as the red line remained above the blue line.

The Awesome Oscillator exhibited minor bearish momentum as red bars appeared in the chart.

XLM one-day chart

Source: Trading View

XLM’s one-day chart exhibited a major uptrend, extending from $0.087 to $0.132. The improved valuation took a hit as the price plummeted from $0.134 to $0.107. The resistance line remained at $0.135 and the support line was scaled at $0.074.

The Parabolic SAR indicated a trend reversal. A bearish phase was slowly overtaking a bullish phase as the final dotted marker was above the candlestick.

The Relative Strength Index remained neutral, but the selling pressure slightly dominated the buying pressure.

The Chaikin Money Flow line was under the zero line, indicating that the capital entering the market was minimal.

Conclusion

All the aforementioned indicators suggested that the tokens were in for a bearish phase in the near future.

The post XRP and Stellar Lumens [XLM] Price Analysis: Bears maintain stronghold on tokens as prices fall appeared first on AMBCrypto.

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$ 0.5282 (-0.02%)
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Изменеия 24h: -0.95 %, 7d: 1.72 %
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xrp xlm → Результатов: 126


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