Stellar (aka Lumens) seems to be breaking up from a nice contracting non-limiting triangle, there's also a potential reversal zone with an RSI BAMM confirmation and multiple bullish divergences. Seems like Stellar is going to follow in the footsteps of Ripple and Litecoin and see a big move soon. This should continue the trend of many innovative altcoins seeing massive gains this year. There are a few resistances along the way, so as usual it will be a good idea to be cautious and take some profit or hedge along the way if it starts to look bearish. However, it is possible based on the EW pattern that this makes a new all-time-high within the next year if we can break through all the resistances.
Fundamentally, Stellar has a lot going for it, its core application is for non-North American financial applications, such as Remittances, Micro payments, Mobile Branches, Mobile Money, and other services for the underbanked. These emerging markets are likely going to gain a lot of ground over the next few decades and they could very well be built on systems like Stellar, which are major improvements to the current technologies that many first world countries are using for banking and finance. Some companies have already begun experimenting with applications using Stellar, and there is a strong Dev team behind it. If Stellar does end up catching on more this could be one of the lowest prices we ever see.
Interesting points, especially about the underlying strength and the appeal for micro-finance and underappreciated markets in upcoming economies. The troubles around BTC should help getting some exposure to investment capital, even short-term. Well put! Thanks.
juchide
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thanks bro
UnknownUnicorn952556
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absolutely nailed, wow. could you please elaborate what kind of elliott wave pattern you are referring to here? "However, it is possible based on the EW pattern that this makes a new all-time-high"?
Ending diagonal, right?
Thanks in advance.
Intuit
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@HighwayPatrol, It actually is possible that abcde was a terminal impulse (aka ending diagonal) instead of a contracting triangle, especially now considering how violent the retracement of the whole thing was. The movement after a terminal impulse completes is very powerful and will retrace all of the terminal in less than 50% of the time that it took, usually less than 25%, which happened here. It will also not break the lowest price of the terminal for at least twice as long as the time of the terminal itself, which may or may not be happening here. Because the terminal was so long we won't know for sure until 2021, but I suspect the price could eventually go so high that it never goes below the price of wave-e.