XLM/BTC Analysis
Stellar project enables low-cost interbank transfers across countries in less than 5 seconds. The Stellar Development Foundation is also working to enable access to the financial world for the unbanked.
Bullish Case:
XLM has been hovering around the long term horizontal support (green bar)and surged 15% before correcting to the same level again.
If it manages to hold the current level then it might try to test and break the next resistance zone(red bar) which would be bullish for mid term.Bullish momentum would be confirmed when the resistance zone(1st red bar) is broken and retested with buying interests.
Bearish Case:
If the current support level(1st green bar) doesn't hold up in the coming days then it would be pretty bearish for the asset and it would test the last support level around 0.00002200 -0.00002100 satoshi level.
Stellar project enables low-cost interbank transfers across countries in less than 5 seconds. The Stellar Development Foundation is also working to enable access to the financial world for the unbanked.
Bullish Case:
XLM has been hovering around the long term horizontal support (green bar)and surged 15% before correcting to the same level again.
If it manages to hold the current level then it might try to test and break the next resistance zone(red bar) which would be bullish for mid term.Bullish momentum would be confirmed when the resistance zone(1st red bar) is broken and retested with buying interests.
Bearish Case:
If the current support level(1st green bar) doesn't hold up in the coming days then it would be pretty bearish for the asset and it would test the last support level around 0.00002200 -0.00002100 satoshi level.
Trade closed: target reached