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Stellar, NANO go bullish while Steem moves along bearish lines

Rakshitha Narasimhan

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Stellar, NANO go bullish while Steem moves along bearish lines
Source: Unsplash

Several altcoins that were off to a good start in January experienced massive fluctuations as they entered February and March and given the recent market crash, all cryptocurrencies incurred huge amounts of losses. However, altcoins like Stellar and Nano are currently aiming at an upward trend while Steem continues the bearish run.

Stellar

Source: Stellar/USD, TradingView

Stellar that has been trending upwards since the start of 2020. The price fell down by 47% after the March 12th crash. However, a 25.3% rise was recorded on April 1; the coin has been maintaining the support at $0.03 since then. CMF indicator which rests at 0.10 hints at a continued upward breakout.

Resistance: $0.052, $0.06, $0.07, $0.08
Support: $0.042, $0.035, $0.031

At press time

Price: $0.04
Market Cap: $894,454,087
24-hour Trading Volume: $345,268,028

Nano

Source: NANO/USD, TradingView

Nano, the 53rd coin as per CoinmarketCap has been trending upwards since March 16, and the coin has recorded an increase breaching all major supports. With the recent price increase by 56%, the coin has continued to maintain support at $0.57. Awesome oscillator indicator which rests above the zero level indicates a possible upward breakout. Additionally, Bollinger Bands seem to contract, which signals lower volatility in the coming days.

Resistance: $0.52, $0.577, $0.66
Support: $0.43, $0.39, $0.31

At press time

Price: $0.60
Market Cap: $80,053,761
24-hour Trading Volume: $5,936,943

Steem

Source: Steem/USD, TradingView

Steem was off to a good start at the beginning of 2020, however, the market crash on March 12, pushed the price down by 50%.  However, on April 3, the coin rose up by 36% only to start another downward run. The descending triangle pattern formed indicates another downward breakout. Additionally, MACD indicator confirms the downward breakout.

Resistance: $0.19, $0.21, $37
Support: $0.16, $0.13, $0.11

At price time

Price: $0.17
Market Cap: $63,173,982
24-hour Trading Volume: $4,716,986

A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.

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