Crypto Price Watch: Stellar Lumens, Cardano, NEO, EOS All in the Green

19 Apr

Crypto Price Watch: Stellar Lumens, Cardano, NEO, EOS All in the Green

Source: Crypto Slate
Crypto Price Watch: Stellar Lumens, Cardano, NEO, EOS All in the Green

Positive investor sentiment coupled with a strong surge of institutional capital has seen the cryptocurrency market bounce back over the last week, potentially heralding an end to the Q1 2018 bull run and foreshadowing a potential bull run. While market cap dominators Bitcoin and Ethereum had demonstrated strong chart actions, alts such as Stellar, Cardano, NEO, and EOS are all expressing positive movement that hints toward a potential repeat of 2017’s epic Q4 run up.

The bullish movement of major market cap cryptos isn’t solely due to investor sentiment, however — several alts have announced major partnerships, reached roadmap milestones, or have been listed on notable exchanges, making the last seven days a highly positive week for investors and traders alike as market sentiment shifts toward the green.

Stellar Lumens (XLM)

Stellar Lumens (XLM) has reached a new 24-hour trading volume of roughly $189 million, and is currently trading for approximately $0.37 against the U.S. dollar. Stellar is the globe’s eighth largest cryptocurrency, and for the most part, is outpacing nearly every single altcoin and Bitcoin competitor with the exception of Bitcoin Cash, which has incurred a $60 jump in the past 24 hours and now sits at just over $940.

Stellar Lumens (XLM) Price Chart - April 19, 2018
The Stellar project has demonstrated stratospheric chart action this week, rising from $0.22 to beyond $0.30 by Thursday afternoon. With XLM recently listed on Coindirect and popular Asian exchange Buybit, the token reached a high of $0.37, but has since corrected to a stable value of $0.36.
Stellar Lumens
Stellar Lumens is a free, open-source network that lets anyone build low-cost financial products for their community.

XLM has nearly doubled its price over the last week, however, and the reasons seem strong and varied. Some analysts attribute the coin’s high performance to growing “excitement” over the upcoming initial coin offering (ICO) of Canadian cannabis company Nezly, which is scheduled to launch tomorrow, Friday April 20.

Stellar is often posed to challenge Ethereum, which up to this point has been the leading technology behind ICOs and related ventures, and the upcoming sale may have boosted investor interest in the coin to new levels.

XLM also enjoys a high percentage of usage in Asia, with Chinese cryptocurrency exchange Binance accounting for roughly 30 percent of XLM trades. South Korean platform Upbit accounts for nearly 22 percent.

XLM has also been listed on two additional digital currency exchanges: BuyBit (based in New Delhi) and Coindirect. This is slated to positively affect the coin’s liquidity in the long run.

Cardano (ADA)

Meanwhile, Cardano (ADA) has received a much-needed boost and is trading at roughly $0.26. As the seventh largest cryptocurrency on the market, ADA is spiking largely in part to its new listing position on Binance, but things aren’t stopping there.

Cardano (ADA) Price Chart - April 19, 2018
Cardano has experienced steady growth over the last seven days, starting the week at a price of $0.20 and swiftly rising to $0.25 on a wave of positive investor sentiment. An announcement from Binance heralding new ADA trading pairs, however, catalyzed a further price increase, with ADA now stabilizing at the $0.27 level.
Cardano is currently ranked #11 in coin rankings with a market cap of $2.8 billion.

The exchange has coupled Cardano with both Bitcoin and Ethereum, meaning Cardano was originally being traded in these two pairs only.

Binance then decided to broaden ADA’s spectrum, and the coin is now trading with both USD and BNB (the exchange’s coin), offering Cardano more flexibility in its trading system and bringing more potential investors to the table. Roughly $610 million in ADA funds has exchanged hands in the last 24 hours alone.

This, combined with Cardano’s low transactions fees and developmental ease are slated to push the currency further into bullish territory, though some analysts warn that the behavior is mimicking that of a pump, and suggest the present conditions may not last for an extended period. Investors are being asked to keep this in mind and remain cautious over the coming weeks.

NEO (NEO)

NEO appears to be stuck between the 20 and 50-day EMAs.

NEO Price Chart - April 19, 2018
Asset digitization dark horse NEO has pushed through volatile chart movement over the last week, fluctuating from a low of $61.83 to a mid-week high of $70.71, only to drop back down to $64. The announcement of a partnership between NEO and Univeris, a wealth management software platform, has seen NEO token value recover to $73.29.
NEO
NEO, formerly known as Antshares, is China’s first ever open source blockchain. Founded in 2014, NEO’s mission has been to reinvent the way commerce is done.

At press time, the currency is trading at $64 – a recommended buy level amongst most investors – though a breakout is expected in the coming days that could potentially bring it closer to $80.

This, however, may set NEO up for further resistance between the $80 and $88 trading figures.

Currently, NEO is experiencing strong support at $64, though any backtracking could see it fall back to as much as $54.

EOS (EOS)

EOS seems to be on an upward trend, trading for approximately $7.80 at press time.

EOS (EOS) Price Chart - April 19, 2018
EOS has recently exceeded the $9.21 high expressed at the beginning of the week, reaching $9.41 as weekend trading begins. The token experienced a significant spike in value on the 17th due to the announcement of a partnership with WAX, which saw it jump over $0.50 in just one hour.

Current behavior suggests bullish territory in the coin’s immediate future, with the potential to break $9.50 or even $10 sooner than one might anticipate. Either way, ascension appears imminent for now.

The post Crypto Price Watch: Stellar Lumens, Cardano, NEO, EOS All in the Green appeared first on CryptoSlate.

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