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What is XLM and Bullish or Bearish? for BINANCE:XLMUSDT by CryptoGoUp

What is Stellar?

Stellar is a decentralized open source platform that connects banks, payment systems, and people. This platform was designed to facilitate cross-border transactions in order to make them faster, cheaper and more secure.

Stellar was founded by Jed McCaleb, co-founder of, and Joyce Kim, a former attorney. Stellar was initially launched on July 31, 2014 under the support of the Stellar Development Foundation, a non-profit organization. This foundation was created in collaboration with the CEO of Stripe, Patrick Collison, likewise, the company received 2% of the initial bonuses in exchange for its initial investment which is equivalent to 2 billion usd.

Since its inception, Stellar has had impressive growth, in January 2015 it reached 3 million unique users. About a year later in April 2015, the Stellar Development Foundation enhanced the network to run a new consensus algorithm, which went live in November of the same year. This new algorithm uses a cryptocurrency protocol or SCP ( Stellar Consensus Protocol), created by David Mazieres, Professor at Stanford University.

The Stellar network is based on blockchain technology, which consists of a decentralized network of servers that run distributed ledgers, these ledgers update each transaction, with each complete record available on each server. The servers communicate with each other, synchronizing the ledger every 2-5 seconds. This communication process is what is known as consensus.

Sending payments through the Stellar network is issued through “Anchors”. Anchors essentially act as a link between any particular currency and the Stellar network, and one will have to exchange the debit for credit with an anchor on the network. In exchange for your deposit, credit will be given to your virtual wallet, which can be sent or received on the network between the participants.

An important benefit is that Stellar supports a distributed exchange model. This allows a user to send a payment in a particular currency, such as, even though they may have a credit in euros. The Stellar network will perform the currency conversion automatically at the best available rates. In addition, the recipient of the funds can withdraw the funds through a partner institution, such as a bank.

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Technical analysis.

First of all we identify supports. And Resistances, I used a 3d graphic for something simple. It is easier to see.

If we realize there is a high demand between 0.30 to – 0.38 cents so we will place our Stop below this.

We will also notice that the MACD Indicator is trying to turn bullish , although the volume is not accompanying this movement.

The RSI has been holding above 48 since december 2020 which indicates that the bulls are continually fighting the bears trying to keep the price higher despite all the pullbacks.

Patterns Candle:

Here we can notice the pattern of 3 upsides. Which could indicate a possible new bullish rally towards the search for a new ath

If we realize in Fib we are above the 50% zone which could indicate possible strength to go in search of new objectives.

And if we realize the price I already tested the EMA20 and SMA50 and it is moving next to it, Whenever this happens it tends to go up in previous times, personally I consider that stellar is an incredible project and it would enter Long in 2x With stop at 0.25. So you have to add a certain margin. But first let’s take a closer look. 4h chart.

If we realize it is testing the EMA20 successively and going up, bouncing and making the MACD not go down, but a small dip is totally probable.

On the BTC chart, as we can see, it is gaining strength again, which indicates that we could see a bullish resistance and retreat, or exceed it.

I would expect an entry between 0.40-0.5 usdt. The closer to 38.2% or support that indicated the better.

From there I would only use a leverage x2. No more. And I would leave a reasonable amount that the fees manage not to kill the profits. This goal is long-term. Iguan in Hodl for Spot is quite useful, this project is quite interesting and in the long term it could reach 2 dollars with a good development and interest from investors

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