Technical and overview of Stellar ( XLM ).
Stellar is a payment technology built upon the Ripple protocol, but it has changed a lot since its inception. Unlike Ripple, Stellar aims to work with developing markets instead of banking systems and other well-established financial institutes. The asset has quickly gained popularity and the trust of investors. Now, this coin is among the top largest cryptocurrencies in the world by market capitalization.
Recently, Visa has bought out the Plaid financial platform and in the process thrown down the gauntlet to its peers, Ripple and Stellar Lumens in particular.
As for Stellar Lumens, it has a big share of the rapid payment sector and must be enviously eyeing Visa’s latest acquisition and calculating what to do to counter it. Recently, it was discovered that Lightnet, a Thai tech-based start-up with big ambitions is seeking to take the place of SWIFT and get crowned as the top international payment system on the market. Lightnet has since raised a significant $31.2 million and will use this to craft a software solution inspired by the blockchain utilized by Stellar Lumens.
Technically, I see cicles and now we are in bottom. If the price continues its move northwards and breaks above 0.00000910, a rally to 0.00002900 is likely in the midterm. Conversely, if the price fails to sustain above 0.00000500, the pair will turn negative with its next strong near 0.00000250.
However, XLM’s In W1 chart looks
Local Support Levels: 0.00000610, 0.00000570
Resistance Levels: 0.00000910, 0.00001250, 0.00001540, 0.00002100
Target Level: 0.00003000
Market Cap: $1 149 259 613 USD
(24h): $1 474 114 504 USD
Circulating Supply: 66 682 072 191 XLM
Best regards EXCAVO
IT DIDN'T HAPPEN, BUT THE FORMATION IS STILL BULLISH SO I'M STILL IN.
btc looks bearish ... like this wave up is over. so i've exited
On the USDT pairing it looks like a symmetrical triangle with bullish bias.