Stellar (STR / XLM): Feb 16 2016

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This chart is so hype, I can’t believe it has not blasted off the launchpad yet. Stellar (STR on Poloniex and XLM on Bittrex) seems to be destine for about a doubling in price to somewhere around 1000sats where it will meet a convergence of trend lines and horizontal resistance. If that level can be broken, which it seems like it eventually will, the upside is staggering.

 

If you have missed out on ETH and other large bull markets I think Stellar is in the same situation that I identified in the CANN article. That being it’s an established coin with many sizable moves and it is still undervalued against it’s historical chart in an time when everything of quality is moving up.

 

The MACD and other momentum indicators look very strong, the buy volume has been strong with little rise in price, and the FIB tool extension above the 1000sat mark is promising. My guess is that first resistance will be at around 1000 with a breakout target near 2000, current price is a bit over 500.

 

 

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