After the beautiful weekend with actually only rising cryptocurrencies, the crypto landscape now looks slightly different. Most rates now seem to be consolidating with mainly sideways movements. In this update we look at the prices of TRON (TRX), ethereum (ETH) and stellar (XLM).
Just like for the rest of the cryptocurrencies, TRON (TRX) saw a nice increase last weekend. The price rose from the support at $ 0.0220 to above the resistance levels of $ 0.0225 and $ 0.0230. However, the resistance at $ 0.0240 was just a bridge too far. The rate fell off, with the support at $ 0.0232 failing. In addition, an important bullish trend line was broken, making it look bearish for TRX. For now, an important price level to keep an eye on is $ 0.0220 support. If the price also breaks through that support, then it is not inconceivable that TRX drops to $ 0.0215. For the bulls, it is important to become stronger and break through the $ 0.0235 and $ 0.0240 resistance levels. At the time of writing, TRX is worth $ 0.0317.
For ethereum it is actually exactly the same story as for TRON (TRX) at the moment. ETH broke a number of important resistance levels during the recent rally, rising to a monthly high of $ 147. Since then, the rate has fallen slowly again, breaking through important support zones, such as those at $ 142 and $ 140. The price now consolidates slightly above $ 136 with the important bullish trend line at $ 133. This trend line is important as the 55 simple moving average (SMA) exactly coincides with this line. If ETH breaks these two lines, a drop to $ 128 is likely. At the top are the following major resistance levels at $ 144 and $ 147. At the time of writing, ETH is worth $ 140.2.
XLM is currently doing the best of the top 10 cryptocurrencies. The cryptocurrency is 6.6% in the plus and is worth $ 0.166 at the time of writing. The significant increase is probably due to the news that IBM wants to use stellar for its global payment platform. Due to the bullish momentum, it is possible that XLM will continue to rise to the important resistance at $ 0.12. At the bottom, the next support is around $ 0.113.
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The post TRON (TRX) is getting ready for the bears, Stellar (XLM) biggest riser appeared first on Crypto Insiders.