Filecoin, Stellar Lumens, Solana Price Analysis: May 3rd

The end of the month brought gains for most altcoins as Bitcoin also saw its price rise. With the largest cryptocurrency recovering from its previous losses, the altcoin market sought to gain stability after this sudden surge in volatility.

Coin Statistics

Filecoin [FIL]

Source: FILUSD on TradingView

Filecoin [FIL] Chart showed its 10% rally over the past three days, pushing the price down from $ 147 to $ 163. Although the peak of this rally was recorded at $ 167, FIL saw a minor correction and is currently trading at the resistance level at $ 163.

With such a price increase, the trend has turned into a bullish trend as the buying pressure remained high. When buying pressure was high, the market showed increased volatility, which means that traders could expect further price fluctuations. The divergence of the Bollinger Bands indicated rising volatility, while the slide of the signal line below the candles indicated a bullish market. The digital asset stayed close to the overbought zone.

Star lumens [XLM]

Source: XLMUSD on TradingView

Stellar price has seen gradual growth despite the rise in volatility. Bollinger Bands formed a big bubble closer to the current price. When the bullish market persisted, XLM was trading at $ 0.5684, preparing to break the resistance at $ 0.5711.

As the asset tested resistance, it also moved into the overbought area. This suggests that the market is currently saturated with buyers and a sudden turnaround could push the price lower. The overall trend in the market was bullish as confirmed by the MACD indicator which stayed above the signal line.

Solana [SOL]

Source: SOLUSD on TradingView

The price of Solana rose 15% in 13 hours in early May. The price hit $ 49.51 before pulling back, and SOL is currently valued at $ 48.78.

The asset found support at $ 46.06 and has now seen money enter its market. This was underscored by Chaikin Money Flow, which fell below zero but reappeared as buying pressures increased. This surge in buying pressure can be seen in the relative strength index, which was currently at 61, closer to the overbought area.

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