Top 3 Reasons Why Crypto Investors Should See Stellar Lumens (XLM) as Bullish
3 Reasons To Be Bullish On Stellar (XLM)
Stellar (XLM) has seen increased corporate interest over the past few months. A research report by Fundstrat shows that corporate investors believe Stellar (XLM) is a promising project. Given below are 3 reasons to be bullish on XLM in 2018.
XLM Is On The Verge Of A Breakout
The general viewpoint concerning XLM seems to be how there will be a breakout sooner rather than later. Till now XLM has seen a few impressive moves, although it remains to be seen if this will effectively lead to bullish price trends moving forward. It seems the breakout is imminent. Several key factors are identified for this specific trend. XLM broke resistance a little while ago, which led to a major price spike. Right now, it seems the asset is in a consolidation mode, which will either lead to a breakout or a new decline. The coming month will be quite crucial for the XLM price in this regard.
The XLM Triangle
As is usually the case in the world of cryptocurrency and digital assets, the markets can swing in two different directions. It is evident there is an XLM pennant forming which can lead to a crucial price change in the future. The current triangle will be broken either for better or worse and send the XLM price on an unusual run because of it. Although not everyone might agree with the targets, they are certainly not impossible. The bullish target sits at $4.2, whereas the bearish target would send XLM to $0.025. Either of these outlooks will develop in early to mid-2019. Although there is a good chance it may take a while longer for XLM to break out of the pennant moving forward.
Race To $0.36
Not everyone plans to wait around until the XLM price shows some positive momentum again. There is nothing wrong with such a short-term outlook, although the projected 50% increase in value may require a bit more time to come to fulfillment. Based on this particular chart, the XLM price should hit $0.36 in the next week and a half. That is not entirely unlikely by any means, essentially because XLM has broken the ongoing downward trend a little while ago. The market view also seems to favor XLM right now, albeit that is always a risky sign to keep in mind.