Ethereum, Stellar Lumens, VET bounce back as alts resist corrections – AMBCrypto English

After a brief period of sustained corrections, it would seem that the markets altcoins are finally finding some momentum after many of the alts recorded some gains of their own over the past 24-hours. This should come as a relief for many since surprisingly, not many altcoins had followed Bitcoins lead when it hiked and consolidated, despite their high correlation with the king coin.

Ethereum [ETH]

Ethereum, the worlds largest altcoin, was one of the crypto markets stars in the early part of 2019. However, all its recorded gains over the aforementioned period of time were wiped out within a few days by the market crash in March. Since then, ETH has recovered well, with the altcoin, at the time of writing, being traded at $212.02. In fact, ETH was up by over 3.5% over the course of 24-hours, the movement that came as a relief for many since it followed a period of bearish market behavior.

The positive momentum in the Ethereum market was highlighted by the technical indicators. While theParabolic SARsdotted markers were well below the price candles, theRelative Strength Indexwas positioned well between the oversold and overbought zone after a brief period where it seemed to be surging towards the latter.

The price-performance follows a report which suggested that while Bitcoin Hodlers are inclined to splash their cash, ETH Hodlers transactions are largely no more than $20.

Stellar Lumens [XLM]

Like Ethereum, XLMs movements lately have been punctuated by minor dips that would stall the market momentum and put a brake on XLMs uptrend. However, this too was reversed, with the price of the token climbing at the time of writing at the rate of 2.5% over 24-hours, with the press time price observed to be $0.07.

However, XLMs indicators didnt seem to be as confident as the cryptos price performance charts. While the mouth of theBollinger Bandswas uniform, theMACDline was closing in on the Signal line for a bullish crossover. However, in light of the final price candle on the chart being red, this may not transpire.

XLM was in the news recently after its native organization, the Stellar Development Foundation announced a $5M investment in Bill Barhydts Abra.

VeChain [VET]

VeChain, the 35th ranked cryptocurrency on CoinMarketCap, is one of the few alts that is still making its way to recovering the losses incurred back in March. At the time of writing, VeChain was priced at $0.005, with the tokens price still a long way away from its resistance at $0.008.

However, the last few days have accrued some gains for the token, with 5 of the last 7 price candles found to be green, suggesting some bullishness. This was highlighted by the findings of theAwesome Oscillatorand the stabilizingChaikin Money Flow.

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Ethereum, Stellar Lumens, VET bounce back as alts resist corrections - AMBCrypto English

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