Robinhood, one of the most important exchanges in the crypto money industry, announced that they listed Avalanche (AVAX) and Stellar (XLM) on the platform during the day.
AVAX and XLM gained an average of 5 percent after the news of the stock market listing.
So what are the important levels for these two altcoins?
Avalache (AVAX)
Altcoins, which moved with the rise of ETH above $ 1800 during the day, lost most of their rise with the price retreating again.
Looking at the AVAX chart, it is seen that the price is moving 80 percent lower than the peak level.
With today’s listing news, the most important resistance level for the price, which has risen to $ 30.90 levels, is $ 32.80 and $ 40.
It is very important that AVAX, which rises above the support level of $ 29, maintains this level. Daily closes above $29 may enable the price to move towards the next resistance levels.
Losing the $29 support could push the price down towards the $25.50 and $20.50 levels.
Stellar (XLM)
XLM, which reacted more positively to the stock market listing news than AVAX, experienced an increase of 8 percent during the day.
The most important resistance levels for XLM, which is trading at 83 percent lower than its peak price, are seen at $0.146 and $0.168. While the price stays above 0.13 is considered positive at this stage, the $0.12 and $0.10 levels can be followed if it falls below this level.
In particular, the fact that the price of ETH has seen the levels of $ 1800 and the number of active addresses has recently increased significantly, showing that we can see a movement in altcoins. If Bitcoin does not experience a sharp decline at this stage, it is highly likely that we will continue to increase the general August same, especially without the FED meeting.
*Not investment advice.
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