APE, XLM Move Close to 1-Month Highs – Market Updates Bitcoin News

Apecoin gained more than 13% on Tuesday, in spite of bearish sentiment still prevailing in crypto markets. The token stayed close to a one-month high in today’s session, despite current market turbulence. Stellar also traded in green and was close to a peak of four weeks.

Apecoin, (APE).

Apecoin (APE) was one of Tuesday’s big movers, with the token climbing by as much as 13% in today’s session.

After a weekly low of $5.12, the APE/USD soared to an intraday peak of $6.12 today.

This move saw the coin rise past $6.00 as a resistance level and close to its four-week peak.

APE/USD – Daily Chart

Earlier gains are beginning to slow down as the relative strength indicator (RSI), 14-day, collided against what seemed like a ceiling.

At the time of writing, index tracking is at 55.64. That is less than its current resistance of 58.50.

It appears that earlier bulls have secured gains and closed positions, and could be waiting for tomorrow’s rate decision to come, before potentially reentering the market.

Stellar (XLM)

Like apecoin, stellar (XLM) was also in the green in today’s session, with bulls pushing it closer to a one-month high.

After hitting a low point of $0.1047 on Monday, XLM/USD reached a new high at $0.1158, trading less than 24 hours later.

As a result of today’s rally, the token is now near a resistance point of $0.1160, which has been in place since August 19.

XLM/USD – Daily Chart

To get beyond this point, XLM might need to increase the RSI. Currently, a point is preventing XLM from moving past it.

The ceiling seems to correspond with the level of $58.00 that has been in effect since mid-August.

Bullish sentiment is likely to begin to rise if the coin breaks out. Traders will look to move it towards $0.1200.

Get weekly price analysis emails sent straight to your inbox by registering your email

Is there a chance we could see this kind of surge in the next 24 hours. We would love to hear your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has previously been a broker director and an educator in retail trading. He currently acts as an analyst for various asset types, such as Crypto, Stocks, FX.

Image credit: Shutterstock, Pixabay, Wiki Commons, photo_gonzo / Shutterstock.com

DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.

Get more Crypto News at CFX Magazine