Stellar Lumens, YFI, Harmony Price Analysis: 08 April

By Akashnath Sumukar2 days ago


Stellar Lumens bounced off the $0.45-level to trade just under the $0.5-resistance. YFI registered a bearish divergence and Harmony’s charts suggested that the selling pressure of the past two weeks was not at an end yet.

Stellar Lumens [XLM]

Source: XLM/USD on TradingView

Since the 25th and 26th March, XLM has seen strong gains from the $0.35-level of support. On the OBV, an uptrend was seen as well. This showed that the rally was on the back of demand from buyers, a demand that was not dented by the recent wave of selling.

The OBV showed only a slight pullback even as XLM fell from $0.53 to touch $0.45, showing that the buyers still had strength in the market despite recent corrections. The MACD formed a bearish crossover, but was above zero. There was some resistance at the $0.5-level, and a retracement level at $0.52 to act as resistance as well. [YFI]

Source: YFI/USDT on TradingView

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