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Stellar Lumen (XLM) Price Signaling Fresh Rally Above $0.10

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  • Stellar lumen price started a strong increase above the $0.0880 and $0.0950 resistance levels against the US Dollar.
  • XLM price traded to a new monthly high at $0.1008 and it is currently consolidating gains.
  • There is a major breakout pattern forming with resistance near $0.0950 on the 4-hours chart (data feed via Kraken).
  • The pair could start a fresh rally if it breaks the $0.0950 and $0.1000 resistance levels.

Stellar lumen price is trading in a nice uptrend against the US Dollar and bitcoin. XLM price is likely to continue higher above $0.1000 as long as it is above $0.0900.

Stellar Lumen Price Analysis (XLM to USD)

In the past few days, there was a steady rise in stellar lumen price above the $0.0800 resistance against the US Dollar. The XLM/USD pair gained bullish momentum and broke the $0.0880 and $0.0950 resistance levels.

It even spiked above the $0.1000 barrier and settled well above the 55 simple moving average (4-hours). A new monthly high was formed near $0.1008 and the price recently corrected lower.

There was a break below the $0.0980 and $0.0950 levels. It even spiked below the 50% Fibonacci retracement level of the upward move from the $0.0826 low to $0.1008 high. However, the price found support near the $0.0900 level.

It seems like the 61.8% Fibonacci retracement level of the upward move from the $0.0826 low to $0.1008 high acted as a strong support. The price is currently recovering and trading in a range above $0.0920.

More importantly, there is a major breakout pattern forming with resistance near $0.0950 on the 4-hours chart. If there is an upside break above the triangle resistance, the price could accelerate higher above the $0.1000 resistance in the near term.

In the mentioned case, the bulls are likely to aim a test of $0.1100 or even $0.1140. Conversely, the price could break the triangle support at $0.0910 to start a fresh decline. The main support is near the $0.0900 level, below which the price could dive toward the 55 SMA in the coming days.

Stellar Lumen Price

Stellar Lumen Price

The chart indicates that XLM price is clearly trading in a nice uptrend above the $0.0900 support. Therefore, it could start a fresh rally if it breaks the $0.0950 and $0.1000 resistance levels.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is slowly losing pace in the bearish zone.

4 hours RSI – The RSI for XLM/USD is still well above the 50 level.

Key Support Levels – $0.0910 and $0.0900.

Key Resistance Levels – $0.0950, $0.1000 and $0.1100.

Tags: , , Source: https://www.livebitcoinnews.com/stellar-lumen-xlm-price-signaling-fresh-rally-above-0-10/

Blockchain

TA: Ethereum Stuck Below $410, Why It Could Correct Sharply Below $400

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Ethereum is struggling to gain momentum above $410 and $420 against the US Dollar. ETH price might start a strong downside correction if it clears the $400 support.

  • Ethereum is facing a couple of major hurdles near the $410 and $412 resistance levels.
  • The price is currently holding the $400 support and the 100 hourly simple moving average.
  • There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a sharp downside correction below $400 if it stays below $412 for too long.

Ethereum Price is Facing Hurdles

Ethereum failed to set a new monthly high above $420 unlike bitcoin against the US Dollar. ETH price seems to be facing a couple of major hurdles near the $410 and $412 resistance levels.

The last swing high was near $418 before the price declined below the $410 support. There was a break below a key contracting triangle with support near $412 on the hourly chart of ETH/USD. However, ether price remained well bid above the $400 support and the 100 hourly simple moving average.

A low is formed near $403 and the price is currently consolidating in a range. There was a break above the $405 level, but the price is facing a strong resistance near the $410 level. It is also close to the 50% Fib retracement level of the recent decline from the $418 high to $403 low.

Ethereum Price

Source: ETHUSD on TradingView.com

The next key resistance is near the $412 level or the 61.8% Fib retracement level of the recent decline from the $418 high to $403 low. If ether clears the $410 and $412 resistance levels, there are chances of a strong increase.

The next major resistance is near the $418 swing high and $420. A successful close above the $420 level might open the doors for a sharp increase in the coming sessions. The next stop on the upside could be near the $432 level, followed by $435.

Downside Break in ETH

If Ethereum fails to clear the $410 and $412 resistance levels, there is a risk of a fresh drop. The first major support is near the 100 hourly simple moving average and $405.

The main support seems to be forming near the $400 level. A continuous failure to gain traction above $410 might even result in a sharp decline below the $400 level (the last key breakout zone).

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly moving in the bullish zone.

Hourly RSIThe RSI for ETH/USD is just below the 50 level.

Major Support Level – $400

Major Resistance Level – $412

Source: https://www.newsbtc.com/analysis/eth/ethereum-stuck-below-410/

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Blockchain

Bitcoin Breaks New 2020 High As Total Market Cap Topped $400 Billion (Market Watch)

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Bitcoin continues with the 2020 records and just a few hours ago marked a fresh high of above $13,350. Most alternative coins followed suit with impressive increases, but the market has calmed since then. The entire cryptocurrency market clocked at above $400 billion.

Bitcoin To Yet Another 2020 High

CryptoPotato reported a few days ago that the primary cryptocurrency exceeded the August 2020 high of about $12,500 and reached $13,200. What followed was a slight retracement to about $13,000 and stagnation yesterday.

Nevertheless, the volatility returned in the past 24 hours, and BTC headed towards new highs. This time, Bitcoin broke above $13,350. In fact, according to data from Bitstamp, BTC’s new 2020 high is at $13,362.

Another sharp rejection followed, and the asset tanked briefly below $13,000. Nevertheless, the bulls have since driven it above the coveted mark, and BTC trades at about $12,940.

A compelling chart recently revealed that Bitcoin is forming an inverse head and shoulders pattern. If it’s to play out, the cryptocurrency could soon skyrocket even further and top its all-time high of $20,000.

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If this scenario is indeed to materialize, Bitcoin would have to break above the resistance lines at $13,420, $13,500, $13,815, and $14,000 before reaching new records.

btcusd_chart
BTC/USD. Source: TradingView

Altcoins Follow Up And Calm Down

Most alternative coins experienced similarly increased volatility as Bitcoin. Ethereum surged to a new 7-week high of nearly $420. However, ETH quickly retraced and is now hovering around $409 again.

Ripple’s highest level came at about $0,26, but XRP has since decreased to below $0.253.

Thus, on a 24-hour scale, most larger-cap altcoins have remained essentially at the same positions as yesterday, despite the brief price jumps. Chainlink and Litecoin have registered the most gains of about 3.6%. LINK trades close to $12.35, and LTC is positioned at $56.3.

heatmap
Cryptocurrency Market Heatmap. Source: Quantify Crypto

The most impressive gainer since yesterday is Filecoin. After the recent controversy and continuous price slump, FIL has surged by 45% in the past 24 hours.

Ocean Protocol (18%), Quant (17.5%), THETA (10.2%), Reserve Rights (10.2%), and Ampleforth (10%) have also increased by double-digit percentages.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-breaks-new-2020-high-as-total-market-cap-tops-400-billion-market-watch/

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Ripple Board Member Arrested on Cyberstalking Charges

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  • Ripple board member and a close family friend of US President Donald Trump, Ken Kurson, has been arrested following allegations of cyberstalking.
  • According to the New York Times, Kurson has stalked and harassed a total of five victims, including his ex-wife.
  • He was reportedly most vicious against a friend of his ex-wife, whom he blamed for his divorce. He used pseudonyms to contact the hospital she worked and sent fraudulent emails claiming that she had an affair with her boss. Kurson also initiated a flood of negative Yelp reviews, threatening emails, and anonymous calls and messages to other hospital employees. 
  • The woman claimed that Kurson had used the same tactics against another female victim, who was fired from her job. The criminal complaint also asserted that the second victim is Kurson’s ex-wife.
  • The public corruption unit of the United States attorney’s office in Brooklyn is handling the case. A judge released Kurson from custody pending trial. 
  • Kurson is a close friend of Donald Trump’s son-in-law Jared Kushner. Kushner had previously appointed Kurson as the editor in chief when he owned The New York Observer in 2013. 
  • In 2018, the Trump administration offered Kurson a seat on the board of the National Endowment for the Humanities. After a routine background check from the Federal Bureau of Investigation, Kurson withdrew from consideration.
  • Kurson joined the board of directors at Ripple in early 2017. The announcement highlighted that Kurson was one of the first investors in the company. 

Featured Image Courtesy of CNBC

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Source: https://cryptopotato.com/ripple-board-member-arrested-on-cyberstalking-charges/

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