SUMMARY : Bullish XLM, caveat we could see a correction in the coming days as Alt Mkt is very heated, especially XLM with recent 100% move in 2 weeks.
June price target $1.70
-- Technical --
MACD 1D showing bullish trend.
Bollinger Bands hitting the top band on daily and weekly - bearish signal
RSI is almost overbought on the daily, we may see further growth but expect a small pull back.
-- Fundamentals --
As it is a similar project in terms of technology compared to Ripple and XRP. Stellar with its currently market cap can 5x in price to match XRP- very bullish.
$$$ Happy Bull Market Alts season is here $$$
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*Not financial advice and is for educational purposes only. Always DYOR.
SO: What do you think, have I got it right? Let me know below.
Will it continue this trend since you analysed potential bearish reversal for Btc?
Tez8
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@henrypike0509, Thanks for your question. Yes, it/XLM will continue upwards, expect pull backs.
The short term (ST)/LTF bearish occurred already and BTC hit 53k, it was trigger in part by the ETH crash, caused by overleveraged traders. We may see a continued drift downwards with BTC but it is , for now, consolidating in its 50-60k range - maybe for another 2 weeks.
Tez8
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@henrypike0509, the correction has occurred the bull market will resume. I estimate, we will reach the top between 4 and 8 months time from today.
In relation to XLM's top, I think between Oct21 and Jan21