Stellar Finds Bottom, Price Likely To Cross $1 Mark During Q4

BITTREX:XLMUSD   Lumen / US Dollar (calculated by TradingView)
Stellar ( XLM ) is not just another cryptocurrency. It is the future of peer to peer payment. A popular theory at this time in the crypto community is that until recently platforms enjoyed the most success, but in the months to come, cryptocurrency projects with a focus on peer to peer solutions are going to be more successful and widely adopted. Stellar ( XLM ) is one of those projects. Apart from solid fundamentals, Stellar ( XLM ) also has a lot of room for growth as far as the price and market cap is concerned. Stellar ( XLM ) currently has a market cap of $3.8 billion whereas its rival Ripple (XRP) has a market cap of $10.91 billion. The difference might seem unfair when you compare fundamentals of both cryptocurrencies but considering the level of adoption XRP has achieved, it can be considered justified.

The daily chart above for XLM/USD shows just exactly what is possible if Stellar ( XLM ) were to make similar gains as it did back in 2017 and 2018. A lot of these cryptocurrencies are perfect examples of how markets repeat the same patterns over and over again. With a marked increase in algorithmic trading, we are going to see more and more of these in the future. Looking at the chart above, we can see that Stellar ( XLM ) can pass that $1 mark during the next cycle without even putting up a fight. Our estimate would be a target of $10 or higher during the next cycle but the sentiment right now is not very optimistic and some investors may find it unreasonable. So, let’s stick to the $1 target by end of the year.

Seeing as how the price of Stellar ( XLM ) is known to make astronomical gains within a time frame of just a few weeks, we can expect the rally to begin in mid to late October and reach its peak around May 2019. During this time, if overall market conditions remain favorable, Stellar ( XLM ) has one of the highest probabilities among most cryptocurrencies to pass its previous all time high. This is because Stellar ( XLM ) is currently one of the best investments from a risk/reward standpoint. The fact that it has IBM looking out for its interest and that peer to peer transaction is the future, Stellar ( XLM ) is likely to see tremendous success in the future.

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Good long term chart but on the short term, as long as the 0.22 Resistance stays intact, we will continue targeting 0.1802 and 0.1713:

+1 Reply
JefeCaan InvestingScope
@InvestingScope, I agree. Thanks for the additional insights!
whyd you report all my comments? geez dude
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