XLM - Buy when there is blood on the streets
Thanks for viewing,
XLM is near to multi-year lows, but there are signs of support.
This is my count, a count that applies to a lot of altcoins that despite showing some bullish action earlier in the year, are now re-testing the lows of 2019. Another possible count is that the big rise and fall-back (not yet to >100%) is wave 1 and 2 of a bigger new move up. Both counts are bullish, but bullish to different extents. Still, there is strong bullish RSI divergence, MACD histogram ticks to the upside, the MACD moving averages are below the zero line but have crossed over and are heading upwards. I see enough fundamental and technical reasons to start buying - and I think I am very lucky to be able to buy at such low prices. Fundamental reasons like:
- Recent news from Stellar allows staking as a way to support the network as well as gain extra airdrops on Binance - Over $750,000 in airdrops to be given away over the next month and a bit. There is other good news for XLM (it will take a lot of XLM off the exchanges to earn airdrops).
Also XLM has two good use cases:
- Tempo as a platform built on the Stellar network with a very good chance of challenging the high cost, slow, international remittance industry www.stellar.org/how-...powered-by-stellar/. 600,000 transactions can be sent for USD 0.01. That will be most welcome news to all those who lose 10-20% of their funds sending them home from overseas. These fees are so low as to be effectively free.
- Stellar as an ICO platform. Developers who want to launch a token or ICO on the Stellar network don't need to learn a new coding language (like "solidity" to launch on ETH) but can use common coding languages already in use. ICOs can be launched within days.
- My BTC count also points to the BTC correction as being complete. BTC has dramatically out-performed most alt-coins this year but I would expect that to change if BTC re-starts its bullish momentum while alt-coins have undergone significant consolidation. I am taking a position in XLM buying both in USDT and BTC.
Protect those funds.
XLM is near to multi-year lows, but there are signs of support.
This is my count, a count that applies to a lot of altcoins that despite showing some bullish action earlier in the year, are now re-testing the lows of 2019. Another possible count is that the big rise and fall-back (not yet to >100%) is wave 1 and 2 of a bigger new move up. Both counts are bullish, but bullish to different extents. Still, there is strong bullish RSI divergence, MACD histogram ticks to the upside, the MACD moving averages are below the zero line but have crossed over and are heading upwards. I see enough fundamental and technical reasons to start buying - and I think I am very lucky to be able to buy at such low prices. Fundamental reasons like:
- Recent news from Stellar allows staking as a way to support the network as well as gain extra airdrops on Binance - Over $750,000 in airdrops to be given away over the next month and a bit. There is other good news for XLM (it will take a lot of XLM off the exchanges to earn airdrops).
Also XLM has two good use cases:
- Tempo as a platform built on the Stellar network with a very good chance of challenging the high cost, slow, international remittance industry www.stellar.org/how-...powered-by-stellar/. 600,000 transactions can be sent for USD 0.01. That will be most welcome news to all those who lose 10-20% of their funds sending them home from overseas. These fees are so low as to be effectively free.
- Stellar as an ICO platform. Developers who want to launch a token or ICO on the Stellar network don't need to learn a new coding language (like "solidity" to launch on ETH) but can use common coding languages already in use. ICOs can be launched within days.
- My BTC count also points to the BTC correction as being complete. BTC has dramatically out-performed most alt-coins this year but I would expect that to change if BTC re-starts its bullish momentum while alt-coins have undergone significant consolidation. I am taking a position in XLM buying both in USDT and BTC.
Protect those funds.
Comment:
Quite close to my buy zone now...
Trade active:
Still buying, just wondering when the ppl determined to sell at a loss will run out of ammunition.