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Stellar (XLM) Presents Accumulation Opportunity Before Pending Breakout
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Stellar (XLM) Presents Accumulation Opportunity Before Pending Breakout

Stellar Chart With Values Stellar (XLM) has been the centre of attention among crypto investors for its spectacular gains even in the face of trouble in the overall market. Currently, the price looks to be following a bullish gartley on the XLM/BTC chart and could come down over the next few days before rising back up most likely with increased vigor and high trade volumes. Most crytocurrencies currently trade in sync with Bitcoin (BTC) and as of now, Bitcoin is undecided and may yet come down for a while before rising back up. While this may be unsettling news for someone who checks their balance in dollar amounts by the minute, it is a golden opportunity for those with money to accumulate. Some analysts fear that a 2014 style meltdown is likely but given the recent turn of events and the peaking institutional interest in the market, it seems highly unlikely. What seems more probable is that big financial institutions are already accumulating by shaking out weak hands systemically to fill their war chests before the next bull run. Now, of course that bull run will be fueled by mainstream investors who will then buy coins from these financial institutions at premium prices. It is pertinent to note here that projects with exceptional potential like Stellar (XLM) will likely be accumulated with more vigor by these financial institutions who are already experts at picking solid investments. Once they have filled their pockets, they will market those products to their customers and sell the coins to them in the form of cryptocurrency, CFDs, Trusts, ETFs, Options, Futures and a plethora of other financial products. Stellar Chart With Values Needless to say, this will drive the demand up astronomically and what will be different this time is that the same institutions like Goldman Sachs and JP Morgan who were calling Bitcoin (BTC) and cryptocurrencies a scam are going to be the ones promoting it to their customers. As such, it will be in their interest to run to the defense of cryptocurrencies in case any trouble does arise with government agencies. This means that these big institutions will use their influence to propel cryptocurrencies in general and stellar projects like Stellar (XLM) in particular to new highs. With their weight behind such coins, even traditional investors who were skeptical of cryptocurrencies will start investing. Once this happens, the price will continue to skyrocket. Recently, the market is showing signs of uncertainty and confusion but it all appears to be an elaborate scheme to wipe out the small guys so institutions with deep pockets can stock up and profit most off the next bull run. The price currently trades around $0.37 and is poised for big gains after a short term correction. In the grand scheme of things, Stellar (XLM) still has a lot of potential and smart money is busy accumulating at this stage. The price also appears to be very bullish mid to long term on the daily chart for XLM/BTC. Stellar Lumens (XLM) is currently trading in a wedge which presents a good accumulation opportunity. As soon as it breaks out of the wedge in June-July 2018, it will be a bit late to buy.

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Fakhan

I work as the key Trading Analyst for Crypto Daily and provide the team with regular analyses and updates regarding the technical performance of all cryptocurrencies on the market. I am responsible for the production of articles and posts for Crypto Daily’s own technical analysis section and spend my time monitoring and commenting on the varied moves the markets make on a daily basis.

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