A good analyses has to be both fundamental and technical. From a technical standpoint one of the strongest indicators for price action is trend lines and moving averages. Any great breakout begins when the moving average sort out in the common 20 crossing over 50 over 100 as they fan out and continues to find support on the 20. Trend lines show resistance and support levels to better identify entry and exit points. XLM has crossed over and retested the support of the 20 SMA crossing over the 50 which is very bullish. It has also broke all resistance trend lines and found support on it. Technically speaking there is nothing holding it back from mooning. From a fundamental point; Its a great long term hold. XLM has working ATMS in Singapore and has strong partnerships such as American tech giant IBM. On top of that you can build on top of Lumens network same way you can on ETH. To me its a mix between ETH and XRP. Some have gone as far as to call it to ETH of 2018. In the short term I expect it fly up to the 200 SMA with a goal range of 800-1k sats. If it can find support on and the 20 and 50 cross above the 200 SMA we can expect a strong rise to all time highs. https://www.tradingview.com/chart/XQ4vj67B/
Comment:
close up of the cross. Hard to see it In above pic
