Dogecoinย (DOGE) Snaps Losing Streak, Bulls Push Price Higher
After 3 days of losses, Dogecoinย (DOGE) saw a rebound on Saturday as bulls pushed the price away from a recent support level.
Following a low of $0.06284 on Friday, DOGE/USD reached a peak of $0.06382 earlier in the day.
Todayโs gain in price allowed the Memeย Coin coin to move beyond its previous floor at the $0.0620 region.
Nonetheless, the momentum has not completely shifted to the bulls as the relative strength index (RSI) remains below a ceiling of 44.00.
Asย ofย now, the index is at 42.18, and thereย is the likelihoodย of a crossover of moving averages, which could serve as a signal for bulls to reenter the market.
Stellar (XLM) Continues to Gain, Breaking Key Ceiling
Stellar (XLM) has extended its recent gains for a fourth consecutive day, breaking through a wholeย lotย of resistance level in the process.
XLM/USD reached a peak of $0.1328 at the start of the weekend, following a low of $0.1242 on Friday.
Todayโs move has brought Stellar to its highest point since August 16, when the price peaked at $0.1364.
The 10-day and 25-day moving averages are now on the verge of an upward cross, suggesting the likelihoodย of further upward movement for the token.
Bulls appearย to have their sights set on a higher resistance level at $0.1400.
Hot Take
Dogecoinย (DOGE) and Stellar both experienced positive price movements, with Dogecoinย (DOGE) breaking its losing streak and Stellar extending its gains for a fourth day. Althoughย while the momentum is not fully in favor of the bulls in both cases, there are probable indicationsย of a positiveย trend market. For Dogecoinย (DOGE), a crossover of moving averages could signal aย chance for bulls to reenter the market. As for Stellar, the upward cross of the moving averages suggests the likelihoodย of further price increases. It will be interesting to see how these two digitalย currencies perform in the coming days and whether they can maintain their upward momentum.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.
