Stellar (XLM) has been relatively bullish today. It started the day in positive territory, at $0.0206. However in the course of the day, it has dropped, touching a low of $0.195. This low is now the day’s support level, since it formed a double-bottom pattern at this level. That’s usually a bullish signal, and Stellar has been rising since it tested it, testing a high of $0.0209. This price rise has also led to a cross of moving averages, with the 21-day moving average now crossing the 55-day moving average from below, a pretty bullish signal
For an investor looking to trade in Stellar (XLM), the most important price level to watch is $0.0195. If in the course of the day price drops below this level, there is a good chance that it could head lower, and test a low of $0.180. On the flipside, if the price pushes above $0.213, which is the last high it has hit in the last 24 hours, then there is a good chance that it could head higher. A buy order at this level would be most ideal with a target of $0.1218. That’s a key resistance level on the 200-day moving average, one that is likely to hold in the day.
Dash (Dash) is one of the biggest gainers today. It started the day at $176.55 before hitting a low of $170.61. However, going by Dash (Dash) coin’s price action in the last 5 hours, it is clear that that drop was a false bearish breakout. Volumes have surged and pushed the price to a high of $193. For an investor looking to trade in Dash, the key level to watch is the 200-day moving average on $198.7, which is now offering strong resistance.
If the price breaks above this price level, it will mean that bulls are fully in control of this market. A break above this could see the price rise to a high of $221. On the flipside, if it fails to break above this price level, or doesn’t test it in the next few hours, then it could be a bearish signal. A short entry at this price level would be most ideal with a target of $166.99. That’s a key support level, one that could hold in the short-term, in case of a downside price break.
XRP started the day in bearish territory and dropped to hit a low of $0.280. It has since eased up, and is now trading in a narrow range between $0.292 and $0.287.