XLM showing relative strength compared to BTC & XRP.
I've been paying attention to XLM for over a month, given the considerable selloff in crypto it looks like a stronger market compared to BTC & XRP. After the false break lower (took out previous week lows) it has been making higher highs in defiance of the overall bearish trend in crypto. When / If bullishness comes back into the market i believe XLM will outperform a lot of the other coins (already worth more than ADA, which was double the price of XLM a few weeks ago).
I am not big on fundamentals as i am a technical trader but when it comes to ground breaking technologies it is important to pay attention to use case, on that note XLM seems solid as it scales better and is faster than Ethereum for ICOs while it also rivals XRP (seeing as its a ripple fork) for cross border settlements.
Back to the price action, i plotted BTC & XRP as line charts and you can see how those markets are considerably weaker (Lower lows and lower highs) than XLM.
Lets see how this pans out in the coming months and in 2018.
Twitter: @bbellgam
I am not big on fundamentals as i am a technical trader but when it comes to ground breaking technologies it is important to pay attention to use case, on that note XLM seems solid as it scales better and is faster than Ethereum for ICOs while it also rivals XRP (seeing as its a ripple fork) for cross border settlements.
Back to the price action, i plotted BTC & XRP as line charts and you can see how those markets are considerably weaker (Lower lows and lower highs) than XLM.
Lets see how this pans out in the coming months and in 2018.
Twitter: @bbellgam