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Stellar (XLM) looks bullish in the long-term despite recent altcoin sell-off

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Stellar XLM
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There have been a few events in the crypto sphere that involved Stellar (XLM). In the past few weeks, it has gained very much after Ripple. Its price has soared, and a bullish upturn is set to be charging, which may be long term.

At the moment, three supports are moving towards the Fibonacci level: 23.4 cents, 22.89 cents, and 21.42 cents. Stellar still looks bearish – but in a short-term and it is safe to say that XLM is all set for a bounce very soon.

Its 4H daily charts show that there is still hope for the bulls very soon, in fact, .the crypto trades in green today already. Lately, the market has seen that Stellar (XLM) has retraced the 61.8% Fib level after it rallied around $0.30 price tag.

However, this Fib level has been there and resilient for quite some time as the price of XLM has produced another green candle above it. It seems that XLM is gaining its bullish momentum, and the XLM/USD charts shown that this may be in the long run.

Nevertheless, there are still some fears that this might not be the case because XLM is still very much overbought. Concerning the EMA, we do know that the EMA-50 happens to be the most dependable for resistant and support levels, but if we are to look at the XLM/USD daily charts, the point for support at the ema-50 hovers at 0.2259 cents; if the price breaks below this point, then it may not be good for the bulls.

Other risk factors that XLM may go down if it doesn’t maintain its 61.8% Fibonacci level is that the price might fail in breaking diagonal downtrend resistance north. Thus, the value could head down to test higher lows series.

The wave trend also indicates that the price of Stellar Lumens (XLM) may still dip if the current Fib level does not maintain. If the XLM’s Fib level goes down to 38.2% and creates a shoulder pattern, then XLM may be faced with an increased sell pressure and its price may dip further down.

On a good note, XLM’s RSI has broken out, and it is preparing for a price rally upward. There may be opportunities for the price of XLM to go down, which is possible, but it may probably be short-term.

In a short-term, the price of XLM might exhibit the bearish value action. It is not safe to say whether the price of XLM will surpass its previous highs. While in a long-term, Stellar (XLM) could more likely make the break out of its current pennant – in the northward direction that’s proving to be among the more promising choices.

Meanwhile in other news, Stellar has been adopted by Circle, a FinTech app. Alongside XLM, the application recently added EOS, 0x (ZRX) and QTUM to its platform. The FinTech has stated that its reason for adding Stellar to the platform was because Stellar (XLM) is one of the fastest growing networks that is scalable and provides one of the best solutions for cross-border payments.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Patrick Baum on Unsplash

Altcoins

HODLing Stellar Is A Good Plan For 2019

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HODLing
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HODLing, or holding on to a certain asset or assets has always been an extremely useful investment strategy, even before cryptocurrencies were even imagined. Now, with the market being more uncertain than ever, many are wondering what is the right thing to do with the coins in their possession.

Of course, things change depending on the coin in question, but today, we are going to talk about why it is a good idea to hold on to your Stellar (XLM) in 2019.

Why You Should Hodl Stellar (XLM)

The crypto market is rich with hundreds, and even thousands of different projects at this point, and separating valuable ones from those that are destined to slowly fade away can be tricky. However, even the biggest skeptics believe that Stellar is a coin that is here to stay.

XLM was first launched in 2014, and for a long time now, it has been among the top 10 cryptos by market cap. It is an open-source, decentralized protocol that allows users to send fiat currencies by using cryptocurrency as a method of transport. In a lot of ways, it is very similar to XRP. However, the biggest difference is that Stellar aims to offer its services to regular people, while XRP is more interested in working with banks and financial institutions.

Nevertheless, sending money, especially when it comes to cross-border…

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Reasons To Invest In Electroneum In 2019

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Electroneum
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2018 has been quite a rollercoaster for the crypto space. Coins went up and down more times than anyone could have guessed, not to mention two massive market crashes. However, in a few short weeks, the year will be over, and a new, positive period for the crypto world is expected to arrive.

While there are many predictions for 2019, today we are only interested in one thing — Electroneum (ETN). A lot of people quickly took notice of this coin, and many believe that it is among the coins of the future. Indeed, it has received a lot of attention, and many are interested in why that is, and why investing in it is a good idea. So, let’s take a look at a few reasons why you should invest in ETN in 2019.

1) It is fast

Speed and precision of any service have always been very important to people. This importance is even greater when making a profit depends on it. Electroneum developers were aware of this when they created it, and the coin is up to 5 times faster than Bitcoin. This means that ETN transactions can be confirmed much faster, which in turn reduces fees and waiting time.

Furthermore, there are also plans to create Electroneum Virtual Currency Exchange, which will allow the project to act as an exchange. However, the even…

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STEEMIT Running Out Of STEAM?

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Steemit
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Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.

If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees…

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