Biggest Movers: APE, XLM Move Close to 1-Month Highs

Apecoin rose by more than 13% Tuesday, despite the fact that bearish sentiment remains a large part of cryptocurrency markets. Despite market turmoil, the token held steady at a one month high today. Stellar was also in green and nearing a peak of four weeks.

Apecoin (APE).

Apecoin (APE), one of Tuesday's biggest movers, saw the token climb by as high as 13% during today's session.

After a low of $5.12 at the beginning of the week, APE/USD surged today to an intraday high peak of $6.12 later in the day.

This move saw the coin rise past $6.00 as a resistance level and close to a four week high.

Earlier gains were somewhat tempered as the 14-day relative strengths index (RSI), collided with what appeared like a ceiling.

The index is currently tracking at 55.64 as of writing. This is below its current resistance level of 58.50.

It seems that bulls in the past have made gains and closed positions. They could be waiting for tomorrow’s rate decision before possibly reentering market.

Stellar (XLM)

As apecoin (XLM), stellar was also in green today, with bulls pushing it closer towards a one-month high.

On Tuesday, XLM/USD traded at $0.1158, less that 24 hours after it hit a low of $0.1047.

Today's rally has resulted in the token being near $0.1160 resistance, which has been in effect since August 19.

To move beyond this point, XLM will likely need to see gains at the RSI. Currently, a resistance point is holding XLM back.

This ceiling seems to be at the level of 58.00 which was also in place mid-August.

If the breakout occurs, bullish sentiment could return with traders trying to push the token towards $0.1200.

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Could we witness a stellar surge to this level in the next 24hrs? We would love to hear your comments.

By: Eliman Dambell
Title: Biggest Movers: APE, XLM Move Close to 1-Month Highs
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Published Date: Tue, 20 Sep 2022 16:00:59 +0000

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