Stellar Lumens (XLM) and IOTA are strong investment options in the crypto market. Tron is still struggling after the decline below of the key support line of 5.5 cents. IOTA was able to gather some momentum with DNB, ASA, MoU while Stellar Lumens is just a great purchase option with no strong backups. Here is the technical analysis of some of the top digital currencies in the crypto market.
IOTA Technical Analysis
Risk, technology, and user case adoption are some of the most vital factors that leads to the increase or decrease in the value of a digital currency – these factors either break or make a coin. Fortunately, IOTA is doing a pretty great job in grabbing the attention of tech firms, financial institutions, and even organization such as the United Nation.
A couple of days ago, DNB ASA of Norway – a financial player in the Nordic regions, signed a MoU with IOTA. This means they’ll be part of the data marketplace of IOTA and participate in innovative activities. This partnership also impacted the value of the coin positively.
Tron (TRX) Technical Analysis
The Tron Foundation put up the adverts of their Mainnet launch at NASDAQ for everyone to see. But there is a bit of a distinction here, as all they did was just to advertise the coin and not get it listed on NASDAQ. This means it is not a partnership as most people assume.
On the daily chart of the coin, there is a break beneath the 5.5 cents marks, and this indicates selling point. The coin has not been doing well recently, but predictions have it that its value will surge by the end of this year.
Stellar Lumens Technical Analysis
This technical formation period is a great time to cheaply invest in Stellar Lumens (XLM). The candlestick appears to be bearish, but it wasn’t able to close lower. The digital currency does not have strong fundamentals to back it, but it’s technically a good buy.