$MGI breakout on the Daily$MGI breaking out of a slight downward channel. Note: volume on the breakup candle isn't significant at the moment 9/17 12:00. MoneyGram is in the Remittance business. Crypto projects have made it their goals to minimize the fee charge for money transfers worldwide done on mobile phones nearly instantly. They had a partnership with crypto XRP but fell through on uncertainty with XRP regulation. Another crypto partnership or a Rumor of an all out buy out of MoneyGram by a crypto project is probable in the future.
Remittance
XRP Technical AnalysisI’ve been watching this for quite some time. Fundamental analysis has been hit and miss because the Information provided from Ripple, in terms of utility, has been spotty and confirmation of clients utilizing the ODL hasn’t been cut and dry. With that being said, i think some of the near term driving factors are clearer than before. For blockchain companies to succeed, we have to start seeing a symbiosis, of sorts, between the utility driving factors. IE, ethereum assisting XRP, assisting LINK—etc. The whole is greater than the sum of its parts—TEAM. “Together, Everyone Achieves More”. This ideology is finally coming to fruition in the crypto sector. And rightly so, the Remittance payments sector has been in dire need of “repair” for a decades. And when Institutions see the fruit on the trees in terms of costs savings, speed, efficiency, the sector will do an about face and rightly so.
The chart, if I’m doing this right—is relatively basic. On the weekly, we see a great setup of an inverse head and shoulders. Laid with the chart is your basic Fib retracement levels along with RSI, OBV, volume and MACD along with BBands. My leading indicator, OBV (which isn’t perfect) has been showing extreme strength in accumulation. Price, while decreasing, has been keeping the OBV high. Which is the ideal scenario for this indicator. RSI has been surprised, which can show weakness ( which can be good—trading psychology, remember)
So, what does it mean? It means a bullish trend is emerging. And with it being on the weekly timescale, the confirmation is, strictly in my own opinion, a buy signal.
*This is not investment advice; these are my opinions only and should not be misconstrued for anything but my opinion.*
Taking a breath before take-off, perhaps! Still following the old pattern (Mid-2017). We may see a bit of consolidation at this point. A few more days at this resistance/support level before we see some action. This is a very important stage for all crypto, all the indicators are pointing at a big trend-reversal. Stochastic Oscillator needs to breathe before we see another upward movement, so keep an eye on that indicator to go around 20-30 on the 4h chart before we see upward price movement.
XLM is pressurized and should blow any day now-ZOOM OUT and lookRSI-Bullish div since Dec 18
Bullish divergence of Fundamentals/Price with IBM partnership, Grayscale etc
Expecting it to do what it's always done when reaching the bottom of this long-term channel...got back to the top at the very least.
Let's Start The Remittance Party!Big news coming out from the Stellar* project. We believe in pump based on the news and the possibility for said pump to become the "test pump" depending on what the future holds. Read on and see if you agree.
Fundamentals
Read the big news coming out from the Stellar* project here.
Coins.ph, Flutterwave, ICICI, and Tempo is jumping onboard with Stellar*.
The remittance market is the goal here obviously and with such big players Stellar* can be succesful!
There is a huge market to conquer and the upside for investors is definietly there.
First Pump
We have already seen the market go up on the news, but far from enough. Stellar* is at this moment very undervalued and the chance of a larger pump in the short term is likely. At 900 we will get out and watch the proggress before taking a position again.
Decision Time
If things play out as we expect there will come a time when the market will decide if that's it or not.
That depends on the progress Stellar* can make with the newly acquired partnerships, and what Bitcoin is doing.
Risky Investment
This is a risky investment but with far greater upside potential then downside.
You should be aware that Lumens (The coin of Stellar* and what we are buying) does not really have much value. Read more about it here on their website.
"The Stellar* network is free to use, you only need lumens to cover the base fee" wich is practically non-existent.
For a big pump to happen to Stellar* (or more correctly lumens) , those coins need to become more valuable to the Stellar* network, and that is something we will follow the progress on.
However, crypto have not cared in the past and we don't believe it will this time either, so a pump to 900 in the short is still very likely.
