XLM was prevented by the bulls from falling below $ 0.243. So, a potential reversal could push prices back above $ 0.281. On the other hand, MKR and FTT have fallen to record levels. But their immediate support levels were successful in preventing a lower movement on the charts.
Stellar lumens [XLM]
Stellar Lumens has plunged nearly 22% in the past 24 hours, as has the wider market. A look at the 4 hour chart shows that since the breakout above the $ 0.281 level. Prices appear to be in a downtrend, hitting higher highs and lower lows. Currently, sellers have attempted to bring prices back below the $ 0.243 support. But the bulls were successful in keeping prices from falling. In the near term, indicators suggest that the bulls may take the price control.
Since Stochastic RSI traded in the oversold region, a bullish rebound could be on the cards. Prices could break their immediate resistance at $ 0.281.
TheOn Balance Volume remains in the upper territory. He suggests there were a good number of buyers in the market to support a northward move for XLM.
After hitting record highs at $ 1999 yesterday, a broader market correction saw Maker dip to support at $ 1,252.8. Prices remain stable at their current support level, with buyers stepping in to ease some selling pressure.
The Bollinger bands show a high degree of price volatility as the bands diverged on the charts. Although prices were trading on the upper bands and fell lower, a reversal to the lower band is not a certainty. Additionally, prices may continue to trade between the upper band and the signal line in the future. In the event that prices drop sharply to the lower band, the support at $ 989.95 could be tested.
The Chaikin Money Flow remains above the equilibrium threshold. It indicates that capital inflows could prevent a fall below immediate support in the near future if the index climbs again.
FTX Token [FTT]
The TTF also fell from its all-time high at $ 10.1 and headed for support at $ 7.9. At the time of writing, the FTT was trading at $ 8.36, down more than 17% in the past 24 hours. For now, buyers were keeping prices above their current support level. But indicators suggested that sellers could drive prices down in the short term.
Therelative strength index was heading towards the oversold region. This suggests that the barrier at $ 7.9 may not hold prices going forward.
The MACD seemed to agree with the RSI. It shows that the decline was rising as the red bars on the histogram increased below zero. A bullish cross was also not in sight as the signal line was comfortably moving above the fast moving line.
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