APE, XLM Close to 1-Month Highs – Market Updates Bitcoin News

Apecoin rose more than 13 percent on Tuesday, even as bearish sentiments remained in cryptocurrency markets. Despite the current market turmoil, the signal remained at a one-month high during today’s session. Stellar was in the green, nearing a four-week high.

Apecoin (APE)

Apecoin (APE) was one of the big movers on Tuesday, with the token up as much as 13% in today’s session.

Following a low of $5.12 to start the week, APE/USD rallied to $6.12 earlier today.

The move breached the coin’s key resistance level of $6.00, nearing a four-week high in the process.

APE/USD – Daily Chart

Earlier gains were pared somewhat as the 14-day Relative Strength Index (RSI) hit what appeared to be a ceiling.

As of writing, the index is tracking at 55.64, which is below the current resistance point of 58.50.

It seems that they have confirmed their gains and closing positions with previous bulls and are waiting for tomorrow’s price decision before entering the market.

Stellar (XLM)

Like apecoin, Stellar (XLM) was also in the green during today’s session, with bulls pushing it to a one-month high.

On Tuesday, XLM/USD hit a low of $0.1047 less than 24 hours ago, and found a trade high at $0.1158.

Due to today’s rally, the token is now near the $0.1160 resistance point from August 19.

XLM/USD – Daily Chart

To break above this point, XLM will need to see the gains that are currently taking place at the resistance point in the RSI.

This ceiling appears to be the 58.00 level, which has been active since mid-August.

If a breakout occurs, bullish sentiment will begin to return as traders look to push the token towards $0.1200.

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Can we see a star rise at this level in the next 24 hours? Let us know your thoughts in the comments.

Ilya Dumbledore

Elliman brings a unique perspective to market analysis, having previously been a brokerage director and retail trade instructor. Currently he works as an analyst in various asset classes including Crypto, Stocks and FX.

Image credits: Shutterstock, Pixabay, Wiki Commons, photo_gonzo / Shutterstock.com

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