Is Stellar Headed to the Stars? (Elliott Wave Analysis)

31 Mac 2017

Stellar (aka Lumens) seems to be breaking up from a nice contracting non-limiting triangle, there's also a potential reversal zone with an RSI BAMM confirmation and multiple bullish divergences. Seems like Stellar is going to follow in the footsteps of Ripple and Litecoin and see a big move soon. This should continue the trend of many innovative altcoins seeing massive gains this year. There are a few resistances along the way, so as usual it will be a good idea to be cautious and take some profit or hedge along the way if it starts to look bearish. However, it is possible based on the EW pattern that this makes a new all-time-high within the next year if we can break through all the resistances.

Fundamentally, Stellar has a lot going for it, its core application is for non-North American financial applications, such as Remittances, Micro payments, Mobile Branches, Mobile Money, and other services for the underbanked. These emerging markets are likely going to gain a lot of ground over the next few decades and they could very well be built on systems like Stellar, which are major improvements to the current technologies that many first world countries are using for banking and finance. Some companies have already begun experimenting with applications using Stellar, and there is a strong Dev team behind it. If Stellar does end up catching on more this could be one of the lowest prices we ever see.