Stellar (XLM), Quantstamp (QSP), Algorand Price Prediction for Apr 21
Stellar, Quantstamp, and Algorand technical analysis may point to bears, but bulls could be in control. ALGO/USDT, XLM/USD, and QSP/USD price actions are with lower trading volumes. It points to weaker downside momentum that won’t satisfactorily break below critical support levels.
Stellar Lumens (XLM)
Remittance is a multi-billion sector that’s been immune to technological disruptions before until Stellar Lumens happened.
For what lies ahead of Jed McCaleb and the team, XLM price predictions are deep in the green, projecting whole numbers by the tail end of this year.
Regardless of upbeat traders, Apr 18 happened and triggered a sell-off. XLM/USDT technical candlestick arrangement in the daily chart points to a correction.
XLM is stable on the last day but down double-digits week-to-date, losing 21 percent against the USD.
Meanwhile, volumes are decent, within range, averaging $1.3 billion on the previous trading day.
XLM/USDT Price forecast
Aforementioned, XLM/USDT technical analysis indicates sellers.
Still, XLM price action points to bulls.
After sharp, climactic-like losses of Apr 18, XLM/USDT prices are stable, dropping almost 50 percent from within the late March to mid-Apr 2021 range.
A level deeper, XLM/USDT price action is within a bullish breakout pattern after Apr 5 solid bar. In a retest of Mar highs of $0.50, XLM bulls must flow back for trend continuation back to Apr 2021 highs of around $0.70.
If not, XLM/USDT prices may close below $0.50 towards $0.30 in a bear trend continuation pattern of late Feb 2021.
In the race for smart contract supremacy, Algorand bears all the hallmarks of success. It is scalable, interoperable, and ALGO is liquid. For this, analysts expect ALGO prices to end the year strongly, reading from Algorand price forecasts.
As of writing, ALGO is retreating from all-time highs. ALGO average trading volumes are down 18 percent to $590 million on the last day.
Changing hands at $1.26, the coin is stable but down double-digits as bulls struggle to arrest sell pressure of Apr 18.
Technical candlestick arrangement points to bears provided ALGO/USDT prices trend inside the visible bear bar of last week.
ALGO/USDT Price Forecasts
ALGO prices are back below $1.50 and Mar 2021 highs.
The confirmation of the double-bar bear reversal pattern on Apr 19 foreshadows weakness.
As long as prices trend below $1.5 and Apr 18 highs of $1.7, every pullback may be a liquidation opportunity for aggressive traders.
Therefore, before ALGO/USDT prices find support, the immediate bear targets are at $1. The level is the 50 percent Fibonacci retracement of the Q1 2021 trade range. It flashes with Mar 2021 lows.
More profound losses may see the ALGO/USDT price further drop to $0.60—the 78.6 percent Fibonacci retracement level of the same trade range.
The race for payment efficiency and collaboration places Quantstamp ahead of the pack.
Its native currency QSP has performed exemplary, charting quickly to new 2021 highs before retreating, as QSP price charts reveal.
An encouragement for traders is the level of participation—across the crypto market. It is drastically lower, which supports bulls from an Effort-versus-Results perspective.
Forging forward, QSP buyers are buoyed by decent volumes that keep fluctuating but within range. QSP is down 18 percent week-to-date against ETH and USD.
QSP/USD Price Analysis
QSP price forecasts remain bullish.
Of note, the QSP/USD is within a bullish breakout pattern, as price action in the weekly chart reveals.
Accordingly, every QSP/USD dip may provide a buying opportunity for aggressive traders. In that case, the immediate buy target is Apr 2021 highs of $0.14 in a buy trend resumption pattern.
On the more pessimistic side, deep, high-volume losses below 2020 highs of $0.07 may trigger more losses, perhaps towards H2 2020 lows of $0.02.
Chart courtesy of Trading View
Disclaimer: Opinions expressed are not investment advice. Do your research.
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