Nick Chong · 4 days ago · 2 min read · Insights via Grayscale Investments
Crypto Price Watch: Stellar Lumens, Cardano, NEO, EOS, IOTA Spike Further
The recent price spikes of major cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin seem to be rubbing off on smaller coins like Stellar Lumens, Cardano and NEO. All three currencies sit within the green zone.
Strong maneuvers from major investors are making their way through market exchanges as more and more seek to enter the crypto trading arena and get in on the action as prices continue to spike.
With Bitcoin potentially slated to hit the $9,000 mark as early as next week, the bull run we’ve now witnessed over the past week can no longer be dismissed as a fluke.
Stellar Lumens (XLM)
XLM is down by roughly $0.01 since our last price piece and is trading at the $0.38 mark. Analysts had predicted a small price drop, though long-term sentiment suggests an ongoing rise to as high as $0.47 within the coming weeks. Stops for the coin are advised to remain tight as overall trends for XLM remain bullish.
In addition, XLM is in partnership with three major financial and/or tech players: IBM, Deloitte, and ICICI Bank. This has, in turn, led to an increased adoption in countries ranging from Canada to India. Stellar is up 5.82% over the past 7 days.
Cardano has incurred a series of downtrends over the previous months, though analysts now suggest possible evidence of a forthcoming uptrend. Investors are advised to continuously trail the stops to potentially lock in paper profits as prices move up.
Cardano is up $0.02 since our previous price article and is currently trading for $0.29.
Should the currency break this position, it could rise anywhere between $92 and $94 before experiencing further (minor) resistance.
EOS has experienced a large jump, spiking from $7.8 to over $11.72 since our previous price article. With a $4 rise in the books, EOS is exhibiting bullish behavior and is showing an ability to surpass all set resistance, which was predicted to lie somewhere between $9.5 and $10.
IOTA has been riding high this week on news of a successful test with machine-to-machine self-charging car stations.
In conclusion, the total global market cap for cryptocurrencies continues to gain and impress, standing at $395.83 billion – a near $68 billion rise since last Sunday when the market stood at $324.79 billion.
The large number of buy orders for Bitcoin hasn’t been this high since December 2017 – currently at 90%, according to TurtleBC. While this is an encouraging sign, many coins are still nowhere near the all-time highs that were set in late December and early January.
Charta via TradingView
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