Hello traders and investors!! ๐๐
I was just looking at a chart of XLM (stellar lumens,) and in my opinion we see many indicators that the bulls are here... Let's take a look!๐๐๐ฝ
~Recently XLM had what could be considered a triple-bottom in the three areas I have circled above 1๏ธโฃ2๏ธโฃ3๏ธโฃ๐๐
~ After our last low point, we formed what would have been a bear flag๐ป, but the situation quickly turned bull-ish๐ฎ๐ as we see a few large bull candles๐ฏ to invalidate any bear flag/pennantโถ๐๐ซ
we are seeing more of an inverse bull flag now! ๐โโซ (In my opinion)
~We saw a break down from a major trendline that started around May 18th and ended on the 24th of May.. ๐โฌ
~On the 24th of May๐, we saw upwards of 100โ percent price increase in only 1 day๐๐ฎ๐๐ฅณ (I measured this move) What a candle!!!! ๐ฏ๐ฏ๐๐คฏ
Short Fundamental- Overview:๐๐ง
โXLM is it's own blockchain, which means it does not use BTC or ETH resources to function, (this allows for very low transaction fees and times respectively.) ๐ฒ๐ค
โXLM was one of the first (green coins,) or proof of stake coins๐โป, to come out, and it's transaction times are impeccable๐ โฌ๐
โCurrently, the Stellar network is capable of running around 1,000-5,000 transactions per second, which is 100x-500x faster than the Bitcoin network and 50x-250x than the Ethereum network. (Source : www.cryptoeq.io/core...rts/stellar-abridged)
โI have stated before that XLM is extremely undervalued, and I wasn't joking!! As long as BTC can somewhat hold up, I think we may see a bull run to some of our targets depicted above๐๐ฎ๐
That being said, I am looking to gain support here at our 0.41-0.43 range in order to be more certain.
โBack in 2019 Stellar Lumens burned 55 Billion of its tokens, and created a new system where transaction fees are burned as well. (One could suggest in the future we will see more action towards deflationary implications.)๐๐๐๐
It is wise to use caution and do in depth research before making any large investment.โ ๐๐โ
CoinMarketCap info:
Stellar Supply
Circulating Supply 23,083,746,331 XLM
Total Supply 50,001,803,156 XLM
Max Supply 50,001,806,812 XLM
Stellar Market Cap
Market Cap $9,874,475,563.08
Fully Diluted Market Cap $21,389,145,955.98
๐๐๐This is not financial advice๐๐๐ Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment, thank you!
Always have a stop loss โ๐๐ฒ set๐
Any thoughts ๐ญ๐ก, questions ๐โโ๏ธ๐โโ๏ธโ, good ๐, bad๐, happy ๐ or sad ๐ฅ, in the comments always welcome.
Jazerbay
I was just looking at a chart of XLM (stellar lumens,) and in my opinion we see many indicators that the bulls are here... Let's take a look!๐๐๐ฝ
~Recently XLM had what could be considered a triple-bottom in the three areas I have circled above 1๏ธโฃ2๏ธโฃ3๏ธโฃ๐๐
~ After our last low point, we formed what would have been a bear flag๐ป, but the situation quickly turned bull-ish๐ฎ๐ as we see a few large bull candles๐ฏ to invalidate any bear flag/pennantโถ๐๐ซ
we are seeing more of an inverse bull flag now! ๐โโซ (In my opinion)
~We saw a break down from a major trendline that started around May 18th and ended on the 24th of May.. ๐โฌ
~On the 24th of May๐, we saw upwards of 100โ percent price increase in only 1 day๐๐ฎ๐๐ฅณ (I measured this move) What a candle!!!! ๐ฏ๐ฏ๐๐คฏ
Short Fundamental- Overview:๐๐ง
โXLM is it's own blockchain, which means it does not use BTC or ETH resources to function, (this allows for very low transaction fees and times respectively.) ๐ฒ๐ค
โXLM was one of the first (green coins,) or proof of stake coins๐โป, to come out, and it's transaction times are impeccable๐ โฌ๐
โCurrently, the Stellar network is capable of running around 1,000-5,000 transactions per second, which is 100x-500x faster than the Bitcoin network and 50x-250x than the Ethereum network. (Source : www.cryptoeq.io/core...rts/stellar-abridged)
โI have stated before that XLM is extremely undervalued, and I wasn't joking!! As long as BTC can somewhat hold up, I think we may see a bull run to some of our targets depicted above๐๐ฎ๐
That being said, I am looking to gain support here at our 0.41-0.43 range in order to be more certain.
โBack in 2019 Stellar Lumens burned 55 Billion of its tokens, and created a new system where transaction fees are burned as well. (One could suggest in the future we will see more action towards deflationary implications.)๐๐๐๐
It is wise to use caution and do in depth research before making any large investment.โ ๐๐โ
CoinMarketCap info:
Stellar Supply
Circulating Supply 23,083,746,331 XLM
Total Supply 50,001,803,156 XLM
Max Supply 50,001,806,812 XLM
Stellar Market Cap
Market Cap $9,874,475,563.08
Fully Diluted Market Cap $21,389,145,955.98
๐๐๐This is not financial advice๐๐๐ Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment, thank you!
Always have a stop loss โ๐๐ฒ set๐
Any thoughts ๐ญ๐ก, questions ๐โโ๏ธ๐โโ๏ธโ, good ๐, bad๐, happy ๐ or sad ๐ฅ, in the comments always welcome.
Jazerbay
Trade closed manually:
Stellar might follow btc on a run ๐ป๐โโ
Thank you!!
Thank you!!