$XLM BTC new price rally ahead?
XLM, in my opinion, belongs to the top 3 cryptos.
It is decentralised, robust and has a high speed. Recently chosen by the Ukrainian government also after 3-year evaluation as a platform to build their national currency. So I'm strongly bullish for Stellar $XLM, and my analysis might be biased while I try to keep this neutral.
Why is XLM bullish?
1. H8 XLM break into a bullish zone which according to Ichimoku_Cloud indicator (Enhanced for Crypto due to 24/7 activity) read more of this tool by a recent post from @entertheroach The-Ichimoku-Cloud-Ichimoku-Kinko-Hyo-WTF-is-it/
2. H4 and all smaller timeline charts complete a new flag in the chart indicating new burst.
3. Ichimoku_Cloud indicator in H4 is showing strong support just below H4 flag, indicating a new bullish breakout
4. In H4 EMA20 and MA50 recently crossed well over MA200 indicating the bullish cycle
5. EMA20 and MA50 has not crossed in H4 indicating the flag will burst into a new price rally.
Apart from chart analysis with recent positive news on $XLM, bitcoin price rally and above-mentioned indicators, there is a high likelihood to see a big price rally for $XLM similar to 10 days back. It increased 152% in the last rally from the bottom. Thus, the target now is another 150% from the last bottom, 121% from the current price level, which is ambitious, while well deserved for $XLM in my opinion.
It is decentralised, robust and has a high speed. Recently chosen by the Ukrainian government also after 3-year evaluation as a platform to build their national currency. So I'm strongly bullish for Stellar $XLM, and my analysis might be biased while I try to keep this neutral.
Why is XLM bullish?
1. H8 XLM break into a bullish zone which according to Ichimoku_Cloud indicator (Enhanced for Crypto due to 24/7 activity) read more of this tool by a recent post from @entertheroach The-Ichimoku-Cloud-Ichimoku-Kinko-Hyo-WTF-is-it/
2. H4 and all smaller timeline charts complete a new flag in the chart indicating new burst.
3. Ichimoku_Cloud indicator in H4 is showing strong support just below H4 flag, indicating a new bullish breakout
4. In H4 EMA20 and MA50 recently crossed well over MA200 indicating the bullish cycle
5. EMA20 and MA50 has not crossed in H4 indicating the flag will burst into a new price rally.
Apart from chart analysis with recent positive news on $XLM, bitcoin price rally and above-mentioned indicators, there is a high likelihood to see a big price rally for $XLM similar to 10 days back. It increased 152% in the last rally from the bottom. Thus, the target now is another 150% from the last bottom, 121% from the current price level, which is ambitious, while well deserved for $XLM in my opinion.
EMA20 is still above MA50 in H2 while in H4 it's almost touching each other already. In H8 $XLM is touched EMA20 and quickly bounced back up, a sign of strong bull run continuing.
H2 XLM has now twice bounced back from Ichimoku baseline (bright green) while trading in Equilibrium Zone. This is still very Bullish.
Use the same indicators and keep following the MA50 and EMA20 in H8, H4, H2.
It seems like there might be a bit more sideways ahead before we start moving up again.