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

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XLM-USD

XLM

A bearish outlook is observed in the last 24hrs. The downward price rally has been buttressed by both moving averages which are heading south.

The day began when the XLM/USD pairs where trading at $0.13681; it was then further dropped to a low of $0.13090. The resistance level is seen at $0.14020 and support level (S) is seen at $0.13371. The 7 days MA is seen above the 21-day MA earlier during the day indicating a bullish signal; this was later followed by an upward price rally (A) that breached resistance level to close to a high of $0.15198.

Later on, the 21-day MA crossed over the 7-day MA (X) indicating bearish signals showing that the bears have the upper hand thus resulting to a dip in price that breached support and continuously dropped to a low of $0.11972. XLM is currently trading at $0.12404, this shows that the price has dip thus increase buyout. The RSI confirms the dip in price since is slightly dropping.

FORECAST

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The 21 day MA is still above the 7 day MA indicating bearish momentum is likely to continue in the next few hours. New support target should be considered at $0.1200.

XRP-USD

XRP

Despite a bearish outlook, the day began with a bullish momentum (A) where the price rally was pushed up to close at $0.43739.

Later on, the XRP is seen in an ascending channel with price retesting resistance zone (R) and later breached support zone (S). The resistance level is at $0.41977 and support level is at $0.40228. A downtrend is observed and confirmed by the 21day MA which is seen above the 7 day MA indicating a bearish signal.

XRP/USD pair started trading at $0.41275 and is currently trading at $0.38400 showing a dip in pair’s price.

FORECAST

The RSI is seen between 70 and 30 this shows that the price momentum is likely to continue in the next few hours thus a bearish price rally is to be expected. New target should be set at $0.36963 and stop-loss to be placed slightly below the target.

BTC-USD

BTC

Presence of a bearish rally is observed in the last 24hrs, where the day began trading at a high of $7934.45.

The 21 day MA is above the 7 day MA indicating a bearish signal. The bulls later pushed the price up to a high of $8041.33 but the bears were stronger enough to pull the price rally back down, placing support level (S) at $7660.66 and resistance level (R) at $7918.57. Resistance level was tested severally while support level was breached.

Later on, the price was further pushed past support to close at $7138.02. The RSI is seen below 30 at (X) indicating oversold market at that period of time that led to an upward price rally later on. BTC has shown a dip in price since its currently trading at $7156.81 thus increase buyouts.

FORECAST

A bearish run is likely to continue, this is confirmed by the RSI which is heading downwards and the 21 moving average which is still above the 7-day moving average. New support level should be set at $7020.13 and stop-loss should be set slightly above support in case a break out occurs.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.