Stellar (XLM) Price Paces Weekend Gainers
- XLM broke down from the $0.130 horizontal support area
- XLM reached a low of $0.105 before bouncing and creating a long lower wick
- The price has increased by 18% and is trading inside the $0.130 area again
- A successful breakout can trigger a 30% increase to the next resistance at $0.170
- A rejection will likely cause a 12% fall to the $0.110 support area
XRP Price Bounces at Ascending Support Line
- The XRP price has increased significantly since the beginning of the year
- Ripple validated the ascending support line on August 17, creating a long lower wick
- Despite the bounce, XRP failed to reclaim the $0.550 horizontal resistance area
- A successful reclaim likely leads to another 35% increase to $0.70
- Failure to do so can cause a drop to the ascending support line at $0.47
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Monero (XMR) Bounces at Previous Resistance
- The XMR price broke out from a descending resistance line on June 23
- The rejection and ensuing decrease caused a drop to $136 on August 17
- The XMR price bounced and validated the line
- If the upward movement continues, another $15 increase to the $168 resistance area will be expected
- If the rally loses steam, a 9% drop to validate the previous resistance line at $133 will be expected
Hot Take:
Overall, these three cryptocurrencies have shown positive price movements and have validated key support and resistance levels. The future trend for each coin will depend on whether they can break out from their current resistance levels or get rejected. A successful breakout could lead to significant increases, while a rejection may cause a drop in price. It will be interesting to see how these altcoins perform in the coming days and whether they can sustain their upward momentum.
