XLM oversold
Hard to find a cheaper coin than XLM : these are lows that the coin hasn't touched since december 2017 (see the bittrex charts). It has just reached bottom of a downward channel on the daily and is pushed down more thanks to the BTC bullishness which is up over 3% today. A very bullish BTC weakens many altcoins with some traders selling alts in order to fomo into BTC.
XLM looks good fundamentally with IBM partnering with several banks to create "world wire", a way for banks to settle transactions internally, supporting 47 (fiat) currencies in 72 countries. XLM's stellar platform is an open source alternative to Ripple and banks may prefer to have a crypto solution that nobody owns and is supported by IBM, a well known player in the financial industry.
I'm not going to make predictions because the chart doesn't offer much, but I think we're near the bottom and I am long and will add to my position once the downtrend on the 4h or daily is reversed.
XLM looks good fundamentally with IBM partnering with several banks to create "world wire", a way for banks to settle transactions internally, supporting 47 (fiat) currencies in 72 countries. XLM's stellar platform is an open source alternative to Ripple and banks may prefer to have a crypto solution that nobody owns and is supported by IBM, a well known player in the financial industry.
I'm not going to make predictions because the chart doesn't offer much, but I think we're near the bottom and I am long and will add to my position once the downtrend on the 4h or daily is reversed.
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