The Stellar (XLM) crypto has dipped in value since its annual high in July. The price is, however, approaching its $0.105 support level. As for Algorand (ALGO), it has recently been in a strong bearish momentum. It initially formed an annual high of $0.02995 in February but has experienced a sell-off since then. On the other hand, Tradecurve Markets (TCRV) introduces high leverage at 500:1 and will enable trades to amplify their profits.
Summary
The technical analysis for the Stellar (XLM) crypto weekly time frame showcases a dip in value. Its downward momentum was sharp and created a long upper wick. In addition, this led to a low of $0.105 in August, which validated the horizontal area as support.
Despite the Stellar price drop, the RSI reading is still bullish. According to the Stellar price prediction, if the XLM crypto resumes its upward momentum, its next resistance will be $0.235. This means that it can double in value.
In any case, the approval of the FTX liquidation from the court could soon also impact the crypto. However, the failure of Stellar to sustain the breakout is considered a bearish sign and puts its validity at risk.
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Algorand (ALGO) formed support at $0.105 and initiated a bullish rally. This was disrupted, however, when the Algorand crypto reached a value of $0.117. Moreover, the asset’s price faced rejection above $0.115, which included a negative sentiment in the market.
The Algorand team announced plans to change its blockchain network and improve operations. It will move away from relays and favor a Peer-to-Peer (P2P) approach. If bulls can push the ALGO price above $0.101, the price could soon surge above the $0.117 resistance, as mentioned above.
However, if the next candle breaks the low point of the current one, it can retrace to $0.088. The cryptocurrency has climbed above the 20-day EMA, indicating a rise in the bullish momentum. According to the Algorand price prediction, it can reach $0.13 by the end of the year as its maximum point.
However, while Stellar and Algorand are trying to recover, Tradecurve Markets (TCRV) is in a position to dominate the charts. This unique trading platform will combine cryptocurrency trading with other markets. Everything from forex to ETFs, commodities, and bonds will be accessible from a single account.
However, Tradecurve Markets will not stop there. Investors who want to amplify their profit opportunities can also access high leverage, starting at 500:1. There is algorithmic trading with AI and a VIP account system.
Beginners who want to learn can access a Trading Academy and get protection from negative balance. So far, the project has raised $5.8 million, and the team will implement Proof of Reserves (PoR) to bolster transparency.
The platform’s utility token is TCRV. It’s currently at the fifth stage of its presale at $0.025 per token. At launch, analysts project that it will climb by 50x in value.
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