Stellar Lumens, Ethereum Classic, Aave Price Analysis: March 15

Despite the market’s sideways trading over the past week, it appeared that Stellar Lumens and Ethereum Classic could be preparing for a strong upward move in the near term. Aave was stuck within a range, but still offered trading opportunities.

Stellar lumen (XLM)

Source: XLM/USDT on TradingView

Stellar Lumens has formed higher lows for the past three weeks, but has also registered lower highs (white). This kind of compressive price action signaled that a spring was being wound and a breakout was imminent. A session closing above $0.188 or below $0.174 would be necessary to confirm the direction of the next move.

The OBV has also climbed higher meaning buying pressures have been stable. Therefore, a bullish breakout was likely. The RSI stood at neutral 49.8 showing no deviations to react to in the near term.

Ethereum Classic (ETC)

Source: ETC/USDT on TradingView

Ethereum Classic has been trading in a bearish channel (yellow) since the beginning of the month. At press time, the USD 25.24 support level had held steady. In addition, the price has been compressed (white) for the past 24 hours, just below the upper limit of the channel. This could mean the price will break out upwards, or face rejection at the upper limit of the channel and dip below $25.24.

However, the indicators showed no breakthrough in the making – they pointed to neutrality. The CMF showed no significant capital flow in or out of the market, while the RSI stood at 45.6.

Aave (AAVE)

Source: AAVE/USDT on TradingView

AAVE traded between $114.5 and $121 in the past week. This represents just over a 5.5% swing in the other direction at the low and high levels of the range, providing excellent trading opportunities for intraday traders. .

The Fibonacci retracement levels (yellow) showed that $121 is significant and should be flipped to support traders to drive towards upward momentum. The OBV has fallen in recent days, a sign that selling pressure had been higher in recent days. The Awesome Oscillator showed no momentum in either side’s favor.

Leave a Comment