Interestingly, at the time of writing, the bullish sentiment for the market’s altcoins seemed to be nearing an end after the Bitcoin bulls too, entered a cooldown period.
This indicated that post a brief price surge, a south-bound trend was visible in EOS and Stellar Lumens (XLM). Despite this, the XLM market continued to be bullish, while EOS hinted towards price consolidation.
Basic Attention Token with almost 4% in gains since yesterday, continued to be in a bullish trend even towards the end of the trading session.
For EOS, its daily gains were quickly lost and the price started to consolidate between the $2.682 and $2.651 levels. At press time, EOS was valued at $2.667
The dotted lines of the Parabolic SAR below the candles, still however signaled an uptrend. The MACD indicator on the other hand was highly bearish, adding on to the pressures of selling sentiment witnessed today.
For now, EOS bulls need to attain control of the pivot point at $2.667 above the trendline in order to regain a bullish sentiment.
Stellar Lumens registered a loss of almost 2% since yesterday, and at the time of writing displayed spikes in its volatility levels, with the prices seen moving along the upper Bollinger bands. The widening Bollinger Bands also confirmed the spike in the levels of volatility in the XLM market. This was also a contributing factor to further price swings that made the digital asset rise towards its immediate resistance at $0.086
A rise in buying volume during the trading session stimulated further uptrend possibilities for the upcoming trading sessions.
At press time, a return of below-average buy volumes was noted for the Basic Attention Token, a metric that pushed the price towards the $0.220 support level. Despite this, the overall gains since yesterday for the digital asset remained close to 4%.
The Average True Range measuring the market volatility also noted a downward reversal, however, it continued to stay in the upper range, indicative of a continued presence of high volatility.
Given a hint of buying sentiment and a wide price action in the BAT market, could result in the prices oscillating between the resistance and support levels of $0.224 and $0.220 respectively.