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Stellar Price Analysis: XLM Surges 11% in a Day, $0.1 Inbound?

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XLM/USD – Bulls Rebound Into 100-days EMA.

Key Support Levels: $0.08, $0.075, $0.07.
Key Resistance Levels: $0.086, $0.088, $0.0921.

XLM found support at the $0.0668 (.618 Fib) level toward the end of September which allowed the downtrend to reverse. Throughout October, the coin has slowly been grinding higher. Initially, it struggled to break the resistance at $0.08, which is provided by the bearish .236 Fib Retracement level.

This aforementioned resistance was penetrated today as XLM pushed higher to reach the current resistance at the 100-days EMA around $0.0814. XLM will need to break above this level to start a short-term bullish trend.

xlmusd-oct17
XLM/USD Daily Chart. Source: TradingView

XLM-USD Short Term Price Prediction

Looking ahead, if the buyers can break the 100-days EMA level, the first level of resistance lies at $0.086. This is followed by resistance at $0.088 (bearish .382 Fib Retracement), $0.0921 (1.414 Fib Extension), and $0.0955 (bearish .5 Fib Retracement).

On the other side, if the sellers push lower, the first level of support lies at $0.08 (200-days EMA). Beneath this, support is located at $0.075, the 6-month-old rising trend line, $0.07, and $0.0688 (.618 Fib Retracement).

XLM/BTC – Bulls Rebound From Lower Boundary Of Falling Wedge.

Key Support Levels: 700 SAT, 650 SAT, 637 SAT.
Key Resistance Levels: 763 SAT, 781 SAT, 800 SAT.

Against Bitcoin, XLM has been trapped within a falling wedge for the past four months. The cryptocurrency recently rebounded from the support at 637 SAT(downside 1.272 Fib Extension) as it pushed higher to reach the current 718 SAT level.

XLM is now facing resistance at the upper boundary of this falling wedge and must penetrate above here to start a bullish push toward the 100-day & 200-days EMA levels.

xlmbtc-oct17
XLM/BTC Daily Chart. Source: TradingView

XLM-BTC Short Term Price Prediction

Looking ahead, if the bulls break the upper boundary of the wedge, the first level of resistance lies at 763 (bearish .236 Fib Retracement & 100-days EMA). Above this, resistance lies at 781 SAT (200-days EMA), 800 SAT (1.618 Fib Extension), and 842 SAT (bearish .382 Fib Retracement).

On the other side, the first level of support lies at 700 SAT. Beneath this, support is expected at 650 SAT, 637 SAT, and 600 SAT.

The Stochastic RSI produced a bullish crossover signal in oversold conditions which is a strong bullish sign.

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Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/stellar-price-analysis-xlm-surges-11-in-a-day-0-1-inbound/

Blockchain

Blockchain Startup Scores Pro Fighters League Deal to Reach MMA Fans

Blockchain startup Socios has added the Professional Fighters League to the roster of sports organizations on its platform, paving the way for broader cryptocurrency adoption in the MMA, a combat sport. The PFL, which is known for organizing MMA fighters into a sports-season format, joins a lineup that includes FC Barcelona, Juventus, and Paris Saint-Germain, […]

The post Blockchain Startup Scores Pro Fighters League Deal to Reach MMA Fans appeared first on BeInCrypto.

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Blockchain startup Socios has added the Professional Fighters League to the roster of sports organizations on its platform, paving the way for broader cryptocurrency adoption in the MMA, a combat sport.

The PFL, which is known for organizing MMA fighters into a sports-season format, joins a lineup that includes FC Barcelona, Juventus, and Paris Saint-Germain, to name a few sports organizations that have also partnered with Socios.

The PFL deal represents the maiden league partnership that Socios has scored. The news is timely with the bitcoin price currently on a bull run.

The Professional Sports League and Socios are launching Fan Tokens, the official name for which has yet to be decided but is akin to cryptocurrencies that MMA fans can use to participate in the ecosystem.

The new partners will launch what’s known as a Fan Token Offering (FTO), which has the potential to familiarize a whole new demographic with digital currencies and the blockchain.

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PFL CEO Pete Murray told BeInCrypto,

“There is incredible demand for MMA, it is the growth sport of the decade with over 450 million fans worldwide. These fans are young, passionate and digitally-savvy. PFL is leading the way in taking fan engagement to the next level, empowering them, and ensuring their voices are heard through cutting edge technology.”

The token sale will begin ahead of the 2021 season, which begins in April 2021. Sportico reports that previous Fan Token Offerings have generated sales in the range of $700K to $1.5 million at a price of approximately $2.50 per token.

Source: Professional Fighters League

Digital MMA

The MMA boasts some 450 million fans, and the PFL’s social media profile has been on the rise, with the following YoY growth across its channels:

  • Instagram followers up 68%
  • Audience growth across digital = 30%
  • Social engagement increase of 200%

Token holders reportedly gain access to certain benefits, such as the right to vote on decisions and earn rewards via the Socios app, which is available on Apple and Android. Fans can participate in decisions such as fighter bonuses across the “regular season, playoffs and championship.”

MMA fans can also earn PFL-themed rewards and get to test-drive some new features, including a “leaderboard, chat and games,” all of which are meant to fuel fan engagement.

Ben Askren

MMA fans might already be well versed in cryptocurrencies. Retired MMA fighter Ben Askren first came on the cryptocurrency scene with his involvement in the Litecoin project. Last year, Litecoin sponsored Askren for UFC 235, a fight he won.

Since then, Askren has become even more engaged with the cryptocurrency community, from touting the latest bitcoin halving to hosting his own podcast with Litecoin Foundation Chief Evangelist John Kim.

Dubbed the Funky Crypto Podcast, its mission is to “educate the masses about Bitcoin, Litecoin, and cryptocurrencies.”

There are no immediate plans for the Fan Token to be sold on exchanges.

Source: https://beincrypto.com/blockchain-startup-scores-pro-fighters-league-deal-to-reach-mma-fans/

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Blockchain

Stellar Lumens, Cosmos, Nano Price Analysis: 22 October

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To the delight of bullish investors, a surging market was the highlight of the day, with many of the industry’s altcoins closely aping Bitcoin’s own price movements.

At press time, Bitcoin was being traded near the $13,000-level, having risen by over 4.5% in the last 24 hours. Further down the cryptocurrency charts, Stellar Lumens, Cosmos, and NANO followed suit, recording bullish movements of their own.

Stellar Lumens [XLM]

Source: XLM/USD on TradingView

Up by 2.5 % over the past 24 hours with a valuation of $0.0857 at press time, the digital asset marked a notable high from its recent lows seen over the previous week.

In fact, the dotted markers of the Parabolic SAR were below Stellar Lumens’ price candles and underlined an uptrend for the coin. The Relative Strength Index, while noting a slight downturn, was still near 60 and pointed to buying pressure in the market.

The present scenario, being bullish, may see the digital asset further rise well above its support level at $0.0852. At the same time, price stabilization along this level also remains a likely scenario.

Cosmos [ATOM]

Source: ATOM/USD on TradingView

The Chaikin Money Flow was noted to rise above zero, underlining a surge in buy liquidities as the level of capital inflows became greater than the outflows and established a strong bullish trend in the Cosmos market.

The simple moving averages were bullish too, with the 9 SMA (yellow) seen above the 20 SMA (cyan). The golden cross thus confirmed a bullish ATOM market as it approached the $5.557-level of resistance.

In related developments, Cosmos recently released an upgrade for Stargate, an open-source community bounty rewards program for finding low, medium, and high-risk vulnerabilities in the Cosmos ecosystem.

NANO

Source: NANO/USD on TradingView

NANO, at the time of writing, was trading comfortably above the 50% retracement level marked by the Fibonacci retracement tool.

With near-term technical indicators painting a bullish picture, NANO’s price was closing in on its September highs.

The Awesome Oscillator also displayed a clear bullish zero-line crossover, signaling a positive trend for the short-term.

A flip of the 23.6% region or the $0.919-resistance level to support may solidify the bullish trend further, a scenario that may unfold after brief price corrections over the next few days.

Source: https://eng.ambcrypto.com/stellar-lumens-cosmos-nano-price-analysis-22-october

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Blockchain

$900 Imminent? Analyst Claims Ethereum is Ready for an Explosive Move Higher

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  • After days of underperformance, Ethereum’s price is finally catching up to that of Bitcoin
  • The second-largest digital asset saw a massive overnight rally that led it all the way up to highs of $415 before it found any resistance
  • This surge marks a notable climb from its recent lows of sub-$370 that were set just a few days ago
  • It has also reinvigorated altcoins, with ETH’s uptick in price allowing many smaller assets also to push higher
  • Some analysts even believe it will reignite the DeFi trend
  • One trader is now noting that ETH’s macro strength could lift it over 100% higher in the coming months, targeting a move to $900

Ethereum’s severe underperformance of Bitcoin seen throughout the past few days is currently being erased, with bulls aiming at it seeing further upside as it continued breaking all of its near-term resistance levels.

This uptrend comes as Bitcoin consolidates just below $13,000. Overnight, it maintained nearly all of its recent gains, which is a positive sign for buyers.

Where the entire market trends next will continue depending largely on Bitcoin, but one analyst is now noting that ETH could rally to $900 based purely on its independent macro strength.

Ethereum Surges Overnight, Erasing Underperformance of BTC

Earlier this week, Bitcoin kickstarted the ongoing uptrend when it broke above $12,000, but this move came about in the absence of any upwards momentum seen by altcoins.

Yesterday, however, this trend shifted as major altcoins began seeing notable momentum.

Ethereum rallied as high as $400 before facing strong resistance that sent it back below $390. Since then, it has rallied significantly higher.

It is now trading up well over 5% at its current price of $415. It does appear to be facing some resistance at this level.

Analyst: ETH Could Rally to $900 as Macro Market Structure Strengthens 

While speaking about where this imminent bull trend could lead Ethereum, one analyst explained that he is watching for an over 100% upswing past $900 in the coming few days.

“Successful retest for ETH on the weekly time-frame. The next few months will be insane. Not much to say other than see you at $900,” he explained while pointing to the below chart.

Ethereum

Image Courtesy of Galaxy. Source: ETHUSD on TradingView.

How Bitcoin trends in the coming few days will undoubtedly influence Ethereum. However, ETH may soon be able to gain independent momentum.

Featured image from Unsplash.
Charts from TradingView.

Source: https://bitcoinist.com/900-imminent-analyst-claims-ethereum-is-ready-for-an-explosive-move-higher/?utm_source=rss&utm_medium=rss&utm_campaign=900-imminent-analyst-claims-ethereum-is-ready-for-an-explosive-move-higher

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