Today’s EOS/USD market is bullish with most technical indicators indicating an upward pressure. EOS market began the session with an upside correction. The market has now gained by almost 2% and was seen trading above the $3.6419 level.
In addition, the resistance level was found near $3.7607, but the bulls seemed to focus on breaching the $3.76416 level, thus confirmed a rise above the $4.000 level is quite possible.
Notably, the upside price action has pushed the current price from $3.6926 to $3.7550 level. In terms of technical indicators, the uptrend seemed to have gained support from the 7 day MA that traded above the 21 day MA over the intraday. The RSI indicator was also seen trading above the 50 levels that signaled a bullish performance.
Over the last 5hrs, the Bollinger band indicator contracted, and the parabolic SAR indicator was seen below the price momentum. All these signs indicate continuity of bullish momentum in the coming hours. A break above the $3.8000 level could give investors a buy signal. New breakout targets should be set at $4.0000.
Stellar continues with yesterday’s upward movement since the famous coin has escalated from where it opened at $0.0711 to currently exchanging hands at $0.0716. XLM/USD pair has today recovered a bit by 0.01% over the last 24hrs.
Apparently, the market started the session today trading above the overbought zone as reflected by the upper Bollinger band that was tested and slightly breached by the pair’s price. This showed that the bulls dominated the market momentum at that time.
The price later corrected gains and consolidated between $0.0716 and $0.0702 levels, respectively. However, both the resistance and support levels were tested in several instances. A loud market was also encountered since the Bollinger band indicator expanded from the beginning of the market to 03:00 before contracting.
A bullish rally is most likely mainly due to the recent launch of Stellar.Org website redesign with new features like, Make. Money.Better. The feature will give access to reliable money most likely to places where the local currency is uncertain.
In addition, technical indicators currently signal further bullish outlook. The Parabolic SAR is now below the prices that mark a buy sign. The Bollinger band has contracted that also indicated incoming bullish outlook. A break above the $0.07250 is to be expected.
XRP/USD pair has also recorded a bullish performance and is currently trading above the $0.2800 level. The market saw a strong bullish trend line with a support level at $0.28238 and a crucial resistance near $0.29200. The upward move was a continuation of the past week, where the price climbed up past the $0.2700 resistance level to trade above the positive zone.
The upward move was positive since there was a break above the $0.2800 resistance level that has now become the critical support level. The expanded Bollinger band confirmed a loud market momentum thus, a buying pressure. However, the band has recently contracted giving investors a buy signal. A break above the upper band might lead to a climb up to $0.3000 level in the near future.
At the press time, the parabolic SAR is below the price action that indicates incoming Bull Run. The Bollinger band has also contracted, which, signals a buy sign. If the bulls fail to climb above the upper Bollinger band that is at $0.29000, then a downward move towards $0.27500 should be expected.