Bullish Monday: MOAC, Stellar, EOS Among Top Gainers: The cryptocurrency market appears to have started the week in a good mood, as the majority of top 100 cryptos bounced up from weekend consolidation.
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MOAC coin led the gains with a 32% surge during the early hours of Monday’s trading session in Asia. In top 10, EOS and Stellar Lumens led with a 5.95% and 4.85% gain respectively. For Stellar’s XLM in particular, Monday’s gains created the third consecutive day of bullish moves, helping XLM/USD create a double bottom reversal chart pattern, and testing its neckline at $0.21.
On the flip side, this pair continues to travel below the daily cloud of the Ichimoku Kinko Hyo indicator, similar to many other cryptocurrency pairs across the board. The bearish cloud is acting as a strong resistance, shadowing over any attempts the cryptocurrency market has made to reverse the most recent bearish momentum which started back in May 2018.
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Worthy to mention that Stellar is among the five cryptocurrencies that may be added to Coinbase exchange as they announced on Friday, leading to their weekend gains. Other cryptocurrencies that could potentially make it to the Coinbase exchange include Cardano’s ADA, Basic Attention Token (BAT), ZCash (ZEC), and Ox (ZRX).
Don’t forget to complete your risk management due-diligence before developing your investment strategy.
