Stellar (XLM) Analysis and Forecast (Fri, Sept 28th, 2018, 2018): On course to rise up

Share

Coinbase’s update spurred Stellar price to fly higher.

From the news we have:

On the 1st of October, the state channels will be implemented in Stellar’s live network, along with a beta version of Lightning protocol - which is considered as the best long term scaling solution for Stellar. According to their “Lightning on Stellar” roadmap, the release date of this protocol was due on December 1st this year. With this, Stellar might become the world’s digital payment rail in the remittance industry.

stellar analysis and forecast, stellar analysis, stellar forecast, stellar, xlmusd, xlm
Stellar’s roadmap for the implementation of Lightning protocol, source: Stellar.org

Lightning network is a solution that was proposed for Bitcoin blockchain before being found that it also works on Stellar and Litecoin. This solution allows users to generate direct payment channels, mitigate micro-scale transactions with high volume and also supports cross-payment amongst several blockchain networks.

stellar analysis and forecast, stellar analysis, stellar forecast, stellar, xlmusd, xlm

Reportedly announced on Twitter, Coinbase has updated its policies related to assets listing on this platform. This adjustment is expected to speed up the processing of evaluating and adding more digital assets on Coinbase. As being one of 5 cryptocurrencies which are potential to be added on Coinbase, Stellar now is considered to be on a fast-track for listing.

This cryptocurrency has drawn an slightly ascending channel on the price chart, after dropping down from its two-month high of $0.3050.

stellar analysis and forecast, stellar analysis, stellar forecast, stellar, xlmusd, xlm
Stellar (XLMUSD) H1 chart on September 28th, 2018

In H4 timeframe, the price has been stuck within the boundaries of the 38.2% and 61.8% Fibonacci retracement levels for couples of days after a freakout that pierced through the lower level. Stellar is anticipated to consolidate for awhile, then bouncing off from the yellow upsloping line, resuming its upward movements.

stellar analysis and forecast, stellar analysis, stellar forecast, stellar, xlmusd, xlm
Stellar (XLMUSD) H4 chart on September 28th, 2018

Written by nami.today

Share