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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

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Encrypgen
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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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