Stellar (XLM), Bitcoin (BTC), and EOS Price Analysis and Forecast

Daily Crypto Markets Technical Analysis: XRP, Digibyte (DGB), and Electroneum (ETN)

Bitcoin (BTC-USD)

Stellar (XLM), Bitcoin (BTC), and EOS Price Analysis and Forecast

On an hourly chart, BTC/USD pair is trending on a sideways trend contained by a horizontal price channel as indicated by the intertwining Moving Averages.

During the last 24hrs, BTC/USD pair exhibited a bullish outlook. Despite BTC beginning the day trading at $7942.71 against the current price $8160.07, a strong selling pressure followed.

The strong selling pressure resulted in a dip in price action that dropped to a low of $7935.23 (B); period of Consolidation later follows indicating equality in forces of supply and demand by traders. Resistance level (R) is at $7935.39 and support level (S) at $7772.59.

At around 16:00, a bullish accumulation pattern emerged, showing a strong sign of the high level of demand thus pushing the price action up to a high of $8196.65.

The RSI indicator is decreasing in the last few hours thus indicating that the momentum is predominantly with the sellers. BTC current price is therefore up by 4.73%.

FORECAST

An upward price rally is likely to be seen since the 7 day MA is still above the 21-day MA during the last few hours thus indicating a bullish signal. Stop-Loss security should be set slightly below 7952.23 in case of a sharp breakdown.

Stellar (XLM-USD)

Stellar (XLM), Bitcoin (BTC), and EOS Price Analysis and Forecast

XLM/USD is also experiencing a bullish outlook in the last 24hrs, with a sideways trend. XLM began trading around 11 June 06:00 at $0.12127(A), With a bearish Marubozu pattern that clearly indicated that sellers control the trading day from open to close.

A Strong selling pressure later followed that dip the price performance to a low of $0.11931 (B). A 4 price Doji occurs simultaneously on the daily hour chart indicating ultimate in indecision with a very small number of transaction.

At around 16:00, buyers took control in the market momentum and later pushed the price higher to close at 0.12391 (c). XLM is currently trading at $0.1262.

FORECAST

The 7 day MA has crossed over the 21-day MA in the last few hours thus indicating a bullish signal is likely to continue. New support should be set at $0.12271.

EOS-USD

Stellar (XLM), Bitcoin (BTC), and EOS Price Analysis and Forecast

A bearish outlook is seen in the last 24hrs, this is because of a bearish regular divergence pattern that is signaled simultaneously. EOS started selling at $6.23 (A) against the current $6.35. This was later followed by buyers overtaking the market momentum at (B) pushing the price performance up to a high of $6.45 that later dropped.

The dip in EOS coin has lower investor’s opinion, as seen in the RSI X that is declining towards the oversold direction. This indicates that investors are reluctant to the selling of their holdings with anticipation for a better price. Resistance level (R) is therefore at $6.3722 and support level (S) is at $6.2557.

FORECAST

Bullish momentum is likely to be seen, as indicated by the 7 day MA that is above the 21 days MA during the last few hours. New target should be set at $6.3001 with a stop-loss slightly below or above the target in case of a breakout or breakdown.

What's Your Thought On This?, Let Us Know In the Comment Section Below.
♥Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram
Disclaimer: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of ZyCrypto. None Of The Information You Read On ZyCrypto.com Should Be Regarded As Investment Advice, nor does ZyCrypto endorse any project that may be mentioned or linked to in this article. Every investment and trading move involves risk, you should always conduct your own research before making a decision.