The recent recovery has brought a ray of hope within the markets as the major tokens have remained within a consolidated range. As Bitcoin price remains stuck around $57,000, altcoins like XRP are leading a massive recovery. With this, the other altcoins, like Stellar (XLM) and Toncoin (TON), are heading towards the crucial resistance. However, after maintaining significant strength for a couple of days, the Notcoin (NOT) price has triggered a bearish rebound.
Stellar (XLM) Price Analysis
Stellar price has been trading within a bearish trend since it marked the yearly highs and has been trying hard to rise above the bearish influence. The price had faced a massive drain but the recent recovery has held the rally within the range and is expected to trigger a breakout soon. The buying volume surged massively, which suggests a huge rise in the trading activity and hence, XLM price is believed to remain within an ascending trend to soar above $0.12.
The price of Stellar is trying hard to break above the resistance of the falling wedge since the second fortnight of July. With the rise in the buying pressure the token is expected to breach the levels. The bullish Supertrend and the MACD which is about to undergo a bullish crossover may validate a bullish trend ahead. Therefore, if the XLM price rises above the resistance, the token may surge and reach $0.12 in a short while.
Toncoin (TON) Price Analysis
Toncoin had attracted huge traders’ attention which propelled the Toncoin price by over 300% in just a few months. Although the token faced some bearish heat, the bulls managed to trigger a rebound and entered within the bullish range. However, the TON price appears to be approaching the crucial resistance which may validate a reversal from the bearish influence.
The TON price traded finely within a rising parallel channel, while the recent pullback dragged the levels below the support. However, the latest recovery has elevated the levels within the range and is believed to maintain a healthy ascending trend ahead. The TON price rebounded from the 200-day MA and as the RSI maintains a healthy upswing, the possibility of reaching the 50-day MA at $5.328 appears to be imminent.
Notcoin (NOT) Price Analysis
The NOT price had dropped below the decisive range as it broke the lower support amid the latest bearish action. However, the bulls managed to defend the support very well due to which the price initiated a rebound within a short while. Besides, the volume has dropped in the past couple of days which has been a matter of concern.
As mentioned above, the NOT price dropped below the triangle and reached the lower crucial support. The Gaussian channel has turned bullish and the MACD which shows a drop in selling volume is about to undergo a bearish crossover. Therefore, the current trade set-up suggests the Notcoin price is subjected to a 10% pullback if the token drops back below $0.1.