After a protracted bearish outlook, the various coins are slowly making attempts at an upward momentum. Market analysis charts have turned green for all of today’s focus coins. Stellar, Cardano and Litecoin are up by 0.5%, 2% and 3% respectively.
The slow Bull Run has breathed hope to investors seeing that most Relative Strength Indexes are downward facing. The reduction in sales means investors are confident that the various coins will pick an upward momentum due to the Bullish outlook.
Today’s focus coins performed as follows over the last 24 hours:
The pair started off selling at $0.043 and is now at $0.044. This marks a 2.33% increase in its price. The upward momentum has had the effect of pushing the support zone upwards. It also looks set to test and perhaps breach the current Resistance if the Bullish momentum is sustained.
In the markets, investor confidence in Cardano (ADA) grew considerably with the RSI (A) in a downward outlook. The 9 day EMA (B) is upward facing, forming a reverse contracting triangular pattern with the 30 EMA (C) and is about to cross over. This signals that the Bull Run may be here for long.
Litecoin is looking set to go through an upward momentum with all indicators supporting the Bull Run. Over the last 24 hours, the LTC/USD pair has gone up by 2.11%, from Yesterday’s $30.993 to the current $32.32.
Earlier today, the 9-day Moving average (B) crossed over the 30-day moving average (C) which shows a strong upward momentum. In the chart also, the two moving averages formed a reverse contracting triangular pattern which also supports the Bullish momentum.
Support has moved up and the resistance seems set to be breached after being tested severally. In the markets, investors are preferring to hold onto their coins as opposed to selling them seeing that price may undergo an upward reversal after a protracted Bearish period.
Investors are upbeat about the coin picking momentum as indicated by the RSI (A) which is downward facing.
Over the last 24 hours, the XLM/USD pair has taken a slight dip, moving from $0.10341 to $0.10359 on 3-hour charts. This marks a 0.5% increase with both the 9 day EMA (B) and the 30-day EMA (C) indicating an incoming Bullish momentum. The two moving averages form a reverse contracting triangular pattern and the 9-day EMA looks close to crossing over on top.
In the markets, there has been little sale offs with the RSI (A) taking a dip which signals positive investor confidence. In the near future, the Bulls appear to dominate if the momentum is sustained.