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Recent market trends reveal interesting dynamics surrounding Shiba Inu (SHIB) and Stellar (XLM). Market analysis insights indicate a bullish takeover, suggesting an increase in the price of both popular assets.
Stellar and its XLM token essentially erased all of their gains after reaching new yearly highs of $0.16 last month. Stellar was trading at $0.11 on April 5th, down 11.5% from the previous week. However, XLM price has mounted an impressive recovery in the 24 timeframes. The price is currently up 2.85%, with further upside expected.
The primary cause of the surge is the excitement regarding the BTC halving as evidenced by the increase in the total crypto market cap. Investors are expecting XLM price to continue a bullish movement after the current surge drawing from support and technical metrics. The oversold technical indicator also serves as an important metric to signify a bullish recovery.
Investors in Stellar are optimistic about XLM price prospects through Q2 2024, with one possible growth driver being the gradual implementation of smart contracts into the ecosystem through the Soroban upgrade.
Shiba Inu experienced a sharp decline from a high of $0.000037, where it encountered strong resistance at the 0.382 Fibonacci point, and it recently touched the golden ratio support. The support has currently resulted in a price rebound where analysts expect a major surge.
The Relative Strength Index (RSI) is neutral, indicating uncertainty in future price movements, and the technical analysis shows mixed signals. Conversely, a golden crossover was shown by the exponential moving averages (EMAs), suggesting a bullish short-term outlook. The MACD histogram suggests increasing momentum, indicating potential changes in the current trend, but the moving average convergence divergence (MACD) lines show a bearish trend.
DTX Exchange (DTX) is a trading exchange that enables users to trade cryptocurrencies, forex, equities, and contract-for-differences (CFDs). The platform boasts state-of-the-art infrastructure and innovative trading features, offering users unparalleled opportunities. Notably, DTX will be the first large-scale exchange to provide users with 1000X leverage, all while eliminating the need for KYC (Know Your Customer) requirements.
With minimal trading costs, traders can maximize their investments thanks to the platform's community-centric strategy. In addition to having access to prospective airdrops, community members are entitled to governance and voting rights. The platform offers various products, including the DTX wallet and multitier accounts, catering to a wide range of user requirements and enhancing the overall trading experience.
DTX's recent presale success has got tremendous relevance due to its $200K stage 1 raise. This news has sent shivers down the spine of the bull market, casting a shadow over several new projects. The crypto sphere regards it as a disruptive force as it successfully gathers over 3,000 holders within days.
The ongoing presale presents marks a prime time for investors to be a part of DTX Exchange and play an integral role in shaping its future. DTX is poised to capitalize on this market opportunity, especially given its presale price of $0.02. It has readily raised over $200K within no time. It will soon sell at the $0.075 level in stage 2. This attracted investors from XLM price increase and SHIB's momentum to become a part of the eventful presale.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
