Where is Stellar XML/STR going?Going down for now, then a small bounce around 3190, depending on BTC ETF we are going to see new hights or lows.
XML
$XLM / $ETH Pairing. Pre-Consensus. Moon or bust?Everything looks solid from a technical standpoint. I'm expecting a few more tests before next leg up. Worth watching over the next few days, look for the best point of entry at test of support lines or Fibonacci level tests before next leg up. Looks like we could be seeing an awkward formation of cup & handle due to "Mt. Gox" situation.
Stellar (STR/XLM) Breakout Buy SignalStellar (STR/XLM) Breakout
of Symmetrical triangle
Buy Signal
After a few days of a 42% correction (92 ATH - 53) all signs point to a reversal and resumption of upward movement.
50, 100 and 200 EMA (day moving average) are all curling upwards, as it's looking like it's starting another move back towards ATH (All Time Highs).
Interestingly, Stellar was a hardfork from Ripple in 2014. Transactions on the decentralized Stellar network resolve in 2-5 seconds for a fraction of a cent, aiming for low-cost payments between different currencies. Stellar is a decentralized, hybrid blockchain that is fully open-source. It is infrastructure that exists to facilitate cross-asset transfers of value, including payments. With just one integration into the Stellar Network, you will join an open, global financial network where all actors – be they people, payment networks, or banks – have equal access & economic participation. With a team of top technology and finance professionals, the nonprofit Stellar 0.00% .org expands access to low-cost financial services to fight poverty and maximize individual potential. Stellar 0.00% (Lumens) (STR/XLM) is supported by IBM , Deloitte, Stripe, Google.org, Blackrock and loads of other big companies.
Looks interesting to me with still a lot of upside potential. US Dollar parity is the near term target, as it goes the way of Ripple. $10 USD parity in 2018? Given the way this market can sometime move, as well as the fact that STR ( XLM ) is valued far less than any other of the top 17 crypto currencies, I wouldn't be surprised at all to see it pass 1 USD parity in the coming weeks-month and even break the double digit value (i.e. $10) in 6-12 month's time, but who knows.
Of course, "this is not financial advice". I'm just sharing my research, thoughts and ideas.
All the best luck trading
XLM Descending WedgeSteller Lumens is in a descending wedge pattern. A breakout is near. I will wait for bullish conformation before committing to trade as the descending wedge is not a strongly reliable bullish indicator.
THIS IS NOT FINANCIAL ADVICE. DO YOUR OWN RESEARCH BEFORE COMMITTING TO A TRADE.
Latest spike - Stellar Lumens (XLM)After a downward trend since all time high in May, XLM has seen a recent spike over the past few days <90%.
Currently testing resistance level of .00000557. 4hour RSI above 70, waiting to see how much volume keeps flowing.
Rumour Palm Beach Confidential Sept Issue published recent buy tip for XLM. - "Stellar is actively engaged with potential partners in Japan, Southeast Asia, and the Middle East. We expect Stellar to make major new partnership announcements later this year.
We think these partnerships will ignite massive buying in Stellar Lumens tokens. We’re looking for at least a double before the end of the year."
Stellar Lumens is a fork of Ripple and with the upcoming conference (Swell) starting in 11 days which also provides a positive outlook.
STR - Time to Get on Board the SpaceshipStellar, Ripples cousin, is ready for another take off. The spaceship was getting some fractal and geometric fuel. Now that this process is completed, we're ready to go to the stars and beyond. Andromeda is awaiting for us.
Entry: 2000 - 2500.
TP1: 5200.
Stop-loss: 1800.
R/R: 1:16.
Song for the ride: www.youtube.com
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Good luck!
Disclaimer: As usual, this is not a perfect prediction. Don't put all of your money into it. If you don't know how much to put, you can learn how to hedge properly by using common sense and a search engine. I will be posting some updates as I have been doing in my previous posts, but if you want live updates, check out my signature and join my Telegram Group.