cryptocurrencies Another bad day for you. The absence of the expected negotiations over the weekend and the Kelp DAO hack incident turned the sentiment in cryptocurrencies negative again. A big move is expected Monday, and Trump could follow suit again. His strategy is to share big headlines every Monday to support the market open. He continues to do this, often even when Iran denies his headlines.
April 20 cryptocurrencies
Since the start of the Iranian war trump What has become a classic thing for markets is to announce big supportive announcements. The same thing will probably happen again. We will see some upside with major announcements from Trump during or before the stock market open, followed by a reversal. Since the market has such an expectation, if no steps are taken in this direction, the sell side may become stronger.
The first three days of the new week are critical. A second meeting is expected to be held on Monday to extend the negotiation. In summary, volatility is at the door and this seems certain beyond being a possibility, only the direction is not clear.
Stellar (XLM)
Focus on Martinez XLM Coin there is. Stating that $0.179 is the key point, the analyst drew attention to the channel in which the price has been stuck since February. Essentially, there is a similar outlook for many altcoins, and these channels started to be broken on Friday, led by BTC. However, as volumes decreased, risk appetite decreased and the desired results were not achieved.
The analyst thinks that those looking for a short selling opportunity targeting $0.147 may be wrong this time, as the resistance point has been tested many times. It is not possible for the USA and Iran to continue this war for years. Maybe, despite all the denials, everything will be resolved this week and the expected resistance breaks will occur?
“Stellarhas been moving within a clear channel since February. For months, the scenario has been the same: a rejection at the $0.179 level, followed by a pullback to the $0.147 support.
We are now approaching the $0.179 resistance once again. Historically this level has been a “sell” zone, but this is our fourth consecutive retest. In technical analysis, the more a level is tested, the weaker it becomes. I expect the daily close to be above $0.179. “A clear break here would signal that supply at this ceiling has finally been exhausted and would likely trigger a 20% rally towards $0.22.”
If sales accelerate, decline is obvious, and if risk appetite increases, bullish targets are clear. It is possible that the XLM price will reach one of 2 targets in the coming days.
