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Stellar Lumens, Waves, Decred Price Analysis: 05 December

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Stellar Lumens was rising to test the level at $0.18 at resistance before retracing more gains from the previous month, where XLM made gains of nearly 200%. Decred was also moving lower on the charts, and it is expected to see a bounce upward at $24.3 support. Waves had a bullish outlook and traded within an ascending channel.

Stellar Lumens [XLM]

Stellar Lumens, Waves, Decred Price Analysis: 05 December

Source: XLM/USD on TradingView

Using a Fibonacci Retracement tool for XLM’s move from swing low at $0.078 to a swing high of $0.233, some important levels of retracement for the coin were highlighted.

The RSI showed a value of 39, while the price was below the 23.6% level. This indicated the possibility that XLM would retest the same level at $0.18 as resistance, while the RSI tested the neutral 50 line as resistance as well, before a move downward.

The next levels of support for XLM lie at $0.154 and $0.145.

Waves [WAVES]

Stellar Lumens, Waves, Decred Price Analysis: 05 December

Source: WAVES/USDT on TradingView

WAVES was trading within an ascending channel. The bullish channel’s lower boundary can be used to enter long positions, while a close beneath the channel could be a trigger to open a short position with a target of $5.9.

Alongside the price, the OBV also made a series of higher lows, to indicate agreement between price and buying volume. The Stochastic RSI has not strayed either into overbought or oversold territory in the past few hours.

Taken together, it was bullish for WAVES at the time of writing, and dips to $7.3 and $7.4 can be a buying opportunity.

Decred [DCR]

Stellar Lumens, Waves, Decred Price Analysis: 05 December

Source: DCR/USDT on TradingView

The Fixed Range Volume Profile for DCR from 3rd November to the time of writing highlighted some important levels of support for DCR. The crypto asset showed downward momentum on the charts since closing at $33.8, with an upside wick to $43 met with strong selling pressure.

It has been falling steadily since then, The MACD line was moving some distance beneath the signal line, and indicated oversold levels. Hence, DCR could witness a bounce from the level of $24.3.


Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.
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