Stellar Lumens, Ethereum Classic, EOS Price Analysis: 30 May
Stellar Lumens eyed a 20% jump in case of a breakout above $0.465. Ethereum Classic lacked volatility for a large price swing over the coming days. Finally, bullish momentum on EOS could deny a breakdown moving forward.
Stellar Lumens [XLM]
On the 12-hour chart, Stellar Lumens traded within $0.465 and $0.340 levels. With ADX rising steadily over the past few days and clocking in at 33, a strong trend was present for a sharp price swing. A rise above its upper ceiling and 200-SMA (green) could open the doors for a 20% surge in value to $0.56-resistance. Conversely, a breakdown could drag XLM towards $0.27.
With RSI in bearish territory below 45, it was possible that XLM was preparing for its next swing. A rise above 40-50 could see a swift bullish recovery.
Ethereum Classic [ETC]
Bollinger Bands on Ethereum Classic were constrained and showed low volatility in the market. The upper and lower band highlighted ETC’s current channel between $82.9 and $50. The next few days could see some sideways movement within the present channel as bulls prepare for the next upswing. An ADX reading of 24 suggested that a trend was weakening and this added weight to BB’s prediction.
Once the upswing does take place, the first major target lay around $114. In a bearish outcome, levels to look out for include $41 and even lower at $23.
At the time of writing, EOS traded a little over $6, down by 0.7% over the last 24 hours. Its movement on the 12-hour chart remained restricted between $5.6 and 7.4. With bullish momentum on the up according to the Awesome Oscillator, EOS would likely defend its press-time support from a breakdown.
An upwards move could see gains all the way up to $8.87- a region where sellers might step in once again. Supertrend Indicator placed a sell signal at the current price but a stop-loss lay around $8. However, a safer bet would be to wait for a breakout/breakdown before entering into a position.
A bearish turnaround could see EOS head back to its defensive zone between $4.56 and $3.57.
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