Simon Ng Stellar stood out as a significant player in Saturday’s trading, showing a positive trend as the weekend began. After suffering a drop in price for six consecutive days, a bullish presence reemerged in the market, breaking the negative streak. Dogecoin, too, experienced a recovery today.
Stellar (XLM)
On Saturday, Stellar’s price (XLM) increased, reversing a recent slump that lasted six days and drove the price to a multi-month low.
Earlier in the day’s trading, XLM/USD reached an intraday high of $0.12, up from a previous low of $0.1115.
The uptrend is part of Stellar’s continued departure from a support level of $0.110, first reached on Thursday.
XLM/USD – Daily Chart
This marked the first occasion since mid-June that the price touched this support level, coinciding with the relative strength index (RSI) reaching a base level of 30.00.
At the moment of reporting, the index has also made a comeback and is currently standing at 34.84, slightly below an upper limit of 36.00.
Should it breach this limit, the next expected price level would be near the resistance of $0.1340.
Dogecoin (DOGE)
Alongside XLM, Dogecoin (DOGE) also returned to positive territory as the weekend kicked off, recovering from its recent low point.
Following a low of $0.06079 in Friday’s session, DOGE/USD soared to an early peak of $0.06385 today.
The increase is attributed to the meme cryptocurrency moving up from a support level of $0.0600, close to its recent two-month low.
DOGE/USD – Daily Chart
In a movement mirroring XLM, Dogecoin’s RSI has also rebounded from its 30.00 support level, currently standing at 34.13.
The next noticeable resistance is at the 44.00 level, and if reached, DOGE’s value will likely approach $0.06600.
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Will the market sentiment keep changing this weekend? Share your opinions in the comments below.
Table Of Contents
Frequently Asked Questions (FAQs) about fokus keyword: Cryptocurrency Recovery
What happened to Stellar (XLM) and Dogecoin (DOGE) over the weekend?
Stellar (XLM) and Dogecoin (DOGE) both experienced a bounce back on Saturday following a recent six-day losing streak for XLM and a drop in DOGE’s price. XLM/USD climbed to an intraday peak of $0.12, and DOGE/USD surged to a peak of $0.06385 earlier in the day.
What was the relative strength index (RSI) for XLM and DOGE?
The RSI for XLM hit its floor at 30.00 and rebounded to 34.84, while the RSI for DOGE also bounced from a support point at the 30.00 mark, and is now tracking at 34.13.
What are the next likely price targets for XLM and DOGE?
Should XLM’s RSI push past 36.00, the next likely price target will be around a ceiling of $0.1340. For DOGE, the next visible point of resistance is at the 44.00 mark, and should this point be hit, DOGE will likely be near $0.06600.
How can I stay updated on weekly price analysis for cryptocurrencies?
You can register your email to receive weekly price analysis updates sent directly to your inbox. This report may include insights and trends related to various cryptocurrencies, including XLM and DOGE.
More about fokus keyword: Cryptocurrency Recovery
- Stellar Official Website
- Dogecoin Official Website
- Cryptocurrency Market Analysis
- Understanding Relative Strength Index (RSI)
5 comments
this is a great time to invest in Doge maybe, whats the next big prediction, anyone??
how do these RSI numbers work exactly, Can someone explain, thanks!
I never thought XLM woud bounce back like this! Could this mean a new trend?
If you ask me, this rebound is just temporary…don’t get your hopes up to high, been there before.
Stellar and Doge are on the rise again, Great news for the market, hope it lasts…