- Rouge trades now evident as XLM price plays catch-up
- Stellar Lumens saw several disparaged trades
- Cosmos and Lisk were also affected as well
Stellar Lumens News Today – as another April Fool’s day came and left, it appears some crypto traders made jokes in the market. Currently, the digital currency market still staging a recovery from February’s mammoth fall caused by the coronavirus panic. In the digital asset market, rouge wicks were on the high side between April 1 and April 2 with a rise in trades.
Stellar Lumens Saw Several Disparaged Trades
Stellar Lumens price saw a rise in disparaged trades, immediately after March 12, on March 29, after it posted a 5% drop via the hourly chart. Recovering from this same position, the digital currency also mounted a strong upward movement. This channel changed to a falling wedge. The falling wedge, however, in the last few hours of trade showed some form of strength and recorded about 6 green candlesticks after it bounced back from two support areas consecutively at $0.038 and $0.039.
When we look ahead, we would agree that before the price of XLM could hit the $0.041 resistance, the price trend dropped back into the falling wedge. XLM/USD Bollinger Bands indicated an increase in volatility for the asset as it had widened. Finally, the average was also sitting well below the coin’s price, thanks to the continuous green candlesticks posted on April 1.
Cosmos And Lisk Were Also Hit
The price of the 25th largest crypto by market cap, Cosmos, broke a consistent falling wedge. The trades for the coin via Coinbase exchange saw several rogue trades on April 1 as well which ensured that the coin’s price continued its slip. ATOM continued to go lower and higher until it found support at $1.89. This point took price up by 4.38% to trade at $1.97. The $2.02 resistance area was also broken. The MACD pattern for the coin was optimistic as it had moved ahead of the Signal line.
Meanwhile, Lisk saw many rogue trades as well despite trading flat between $0.88 and $1.05 for the last two weeks consecutively. Note that on March 26 on Binance exchange, the digital asset was trading 32.28% under its last trading price. Since that time onward, the digital asset was struggling to break a sideways movement. It has since dropped into another falling wedge, although it is seeing flat trading now over the $0.896 and $0.947 support levels. Lisk’s RSI also moved steadily over 60 after we entered April. However, a brief dip in value saw the coin’s RSI falling down to the 58.87 level.