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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

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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