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Analysis

Stellar, Nano, Huobi Token gear up for yet another bullish swing

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Source: Pixabay

Bitcoin’s recent price surge has undoubtedly been positive for much of the altcoin market, with many continuing to closely follow the king coin’s price movement. After establishing a series of highs over the past few weeks, the altcoins’ technical indices have continued to favour the bulls.

Stellar [XLM]

Source: XLM/USD on TradingView

The Stellar Development Foundation [SDF], Lumenthropy, an XML-powered philanthropic organization, as well as the Stellar community, are at the head of the efforts against Coronavirus after they announced the launch of a donation program to give out 2.5 million XLM to token-supported charities to tackle the pandemic.

XLM was down by 1.79% over the past 24-hours, something that drove its price $0.041. At press time, the token was registering a market cap at $837 million and a 24-hour trading volume of $365 million.

Resistance: $0.062, $0.087

Support: $0.031

MACD: The MACD line was hovering above the signal line, highlighting a bullish phase for the coin.

Chaikin Money Flow: The CMF indicator was also bullish for XLM’s price.

Huobi Token [HT]

Source: HT/USD on TradingView

Like the SDF, Huobi Charity is also contributing to the efforts against COVID-19 after it announced a donation of approximately $50,000 in Huobi Tokens [HT] to the Indonesia-China Association of Economic, Social and Cultural Cooperation [ICAESCC] for the purchase of medical supplies for hospitals.

Huobi Token [HT] was valued at $3.53, at press time, after it recorded a minor surge of 1.10% over the past 24-hours. Additionally, HT recorded a market cap of $797 million and a 24-hour trading volume of $166 million.

Resistance: $3.98, $5.02

Support: $2.40

Parabolic SAR: The dotted markers below the HT price candles depicted a bullish trend for the coin.

Awesome Oscillator: The green closing bars of the AO indicator also highlighted a bullish phase for HT.

Nano [NANO]

Source: NANO/USD on TradingView

At press time, NANO was priced at $0.566, with a market cap of $75.5 million. The token registered a trading volume of $5.13 million after surging by 6.24% over the last 24-hours.

Resistance: $0.913, $1.13

Support: $0.36

Klinger Oscillator: The KO line above the signal line suggested the coin’s presence in bullish territory.

Relative Strength: The RSI was above the 50-median zone and appeared to be heading for the overbought zone.

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.