Stellar update (XLM / EUR)
After my article at the end of July, Stellar (XLM) has reversed its trend as predicted, reaching 34 cents (with € but obviously the same goes for the US dollar), undergoing a retracement just in conjunction with the SMA 200.
For fans of technical analysis, we can see the beginning of a classic cup and handle, which if confirmed could see the stellar price reach around € 0.50 relatively quickly.
At a volumetric level, the most important point is € 0.36, broken that the first target would be the previously quoted € 0.50 and then the all-time high of 0.65.
From a fundamental point of view, I would like to point out a rumor about a possible purchase of Moneygram by the Stellar Development Foundation.
It would be a really big blow, given that MoneyGram, along with Western Union, is one of the most important realities when it comes to instant money sending in the world.
If the price were to undergo major pullbacks, the interesting levels to increase positions are:
and the whole area previously highlighted between 0.20 and 0.15, where I made two entries to the market.
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.