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#Stellar

Stellar Wallet to Airdrop $125 Million Crypto: Will Airdrops also go the ICO Way?

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A Stellar-Wallet keeper, named simply as Blockchain, has announced on Tuesday the launch of an airdrop of Stellar Lumens (XLM).

A Stellar-Wallet keeper, named simply as Blockchain, has announced on Tuesday the launch of an airdrop of Stellar Lumens (XLM).  The airdrop it is valued at $125 million, making it probably the largest such consignment ever to be distributed to users in following months.

Each user shall receive $20 and thereby draw them into owning or trading in these decentralized assets. The estimated value of one lumen to the dollar stands at $0.2538 varying by 5.05% in trading times, according to market charts. The Stellar Lumen is the six highest in market cap rankings currently.

CEO of Blockchain Peter Smith made in his Tweet called the airdrop the “biggest digital giveaway,” adding that the introductory offer was on the back of adding XLM to the blockchain wallet.

 

Airdrops and their Ethics

Airdrops are the latest and most funky way to feed users with cryptos and get them to adopt the decentralized system. Airdrops are marketing gimmick or the generosity of spirit of wallet providers the question of ‘airdrops,’ and their genuineness looms large.

 

More by Blockchain

The Blockchain giveaway of XLM says it is encouraged by its “30M wallet users” and is excited that XLM is now available on their wallet platform with full support.” Additionally, the wallet has said that it will not keep any of the XLM for themselves.

According to Smith, the reason Blockchain chose the Airdrop method is because it will help drive decentralization as well as the adoption of new networks. For crypto users also, it is a highly useful option. It will allow users to trade, test as well as transact on crypto assets and will not have to worry about technical issues involved in buying these assets or mining these assets. The bottom-line is that the Blockchain Wallet is the safest method to use crypto.

 

Why Stellar was inducted

Besides, with the launch of Stellar on Blockchain, there is added scope, the CEO believes. The platform on which Stellar is built allows easy scaling solutions, which is just the base which Blockchain itself needs to move forward to meet strategic goals. Stellar’s token XLM is low cost, fast and easily lends itself to cross-border transactions despite millions of transactions happening in parallel.

The advantage with Stellar is that it is easy to create tokens which are customized for such use. They also allow real-world services or virtual services and more importantly a functioning ecosystem.

 

Airdrop Partners

The wallet provider has indicated that the airdrop will be in association with Standford d.school’s tech initiative called Code.org, along with Network for Good. These organizations will provide the necessary transformational technology for building a promising future, Blockchain authorities said.  The use of airdrop is to provide a stepping stone for the users to obtain and access tokens which will give them control over their financial future.

#Daily Price Analysis

XLM Daily Trading Signals: 26 October

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Dominant bias for STELLAR (XLM)- Bearish

Resistance Levels- $0.2550, $0.2600, $0.2700

Support Levels- $0.2150, $0.2100, $0.2050

 

XLM is in a bearish trend. After breaking down at the 34 exponential moving averages on 24th October, the bearish pressure has been on a nice roller coaster to the south forming lower lows. $0.2410 was the low on 24th October while 25th October low was $0.2387. This is characteristics of a down trending market that produces lower highs and lower lows. The 4-hour opening candle at $0.2388 was a bearish marubozu which signals bears presence and pressure.

 

XLM 4-hour chart

XLM 4-hour chart

 

With XLM price below the 34 EMA and the relative strength index at 39% which is the sellers’ zone, these suggest downward movement in the cryptocurrency due to the Bears’ pressure.

Moreover, the inverted head and shoulder pattern plays out well with the right shoulder developing. The bears may be aiming at a retest of $0.2255 in the support area.

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#Daily Price Analysis

XLM Daily Trading Signals: 23 October

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Dominant bias for STELLAR (XLM): Bullish

Resistance Levels: $0.2700, $0.2900, $0.3000

Support Levels: $0.2000, $0.18000, $0.01600

 

XLM is in a bullish trend  The bullish pressure is much evident as XLMUSD was up $0.2590 at the resistance area 20th on October but briefly lost momentum as the bears stage a comeback. The bear pressure was strong with the cryptocurrency making a low of $0.2431 in the support area on 22nd  October but the candle closes as a bullish hammer, a signal to a reversal.

 

XLM 4-hour chart

XLM 4-hour chart

 

The bulls returned was with a bullish marubozo candle at $0.2434 and XLMUSD was up at $0.2484 in the resistance area before the session ended on 22nd October. The 4-hour opening candle today was bullish and XLMUSD was up at  $0.2520 earlier today with more room for upward movement.

Price is above the 34 EMA a strong indication to bullish pressure and the relative strength index is at 55% a buying zone. Moreover, price is forming higher highs and higher lows that are characteristic features of the up-trending market.  It implies that the bulls are in full control of the market. As more buyers take a position today the cryptocurrency may retest $0.27000 in the resistance area.

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#Bitcoin Cash Price Analysis

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, EOS, Cardano, Stellar, IOTA, TRON: Price Analysis, 11 August.

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The Bitcoin Price downtrend can reach out to the following support levels at $5,400 and $5,000. ETH will pick up strength if the price supports above $620.

BTC/USD

The bulls have protected the basic support level at $6,075.04 for as far back as two days. In spite of the fact that this is a positive sign, a more honed pullback would have given us more noteworthy certainty that the bulls are forcefully purchasing at these levels. As the recuperation has been feeble, we should depend on different signs to anticipate the following plausible heading on Bitcoin.

BTCUSD Price Chart 11 August

BTCUSD Price Chart 11 August

The moving midpoints are very nearly finishing a bearish hybrid, which is a negative sign. Then again, the RSI is near the oversold domain, which demonstrates the offering has been overcompensated and a pullback is likely.

Any pullback will confront a hardened resistance at the downtrend line of the plummeting triangle and after that at the moving midpoints. The virtual money will hint at the primary bullishness once it maintains above $7,200.

There is a probability for the BTC/USD match to remain extend bound somewhere in the range of $6,000 and $8,500. We have arrived at this conclusion in light of the fact that the base — around $6,000 — and the best — around $8,500 — have held twice since May of this current year. In this manner, forceful brokers can enter long positions at $6,800 with the stops beneath $5,900 and anticipate that a rally will $8,500. This is a hazardous exchange since we are hopping the weapon, so we recommend utilizing just 30 percent of the typical distribution. Positions can be included after the price maintains above $7,200.

Our perspective of the development of a range will be refuted if the bears sink prices underneath $5,900. Under such conditions, the downtrend can reach out to the following support levels at $5,400 and $5,000.

ETH/USD

Ethereum is attempting to skip off the basic support at $358. On August 8, the tumble to $346.35 was the most minimal level since November 19 of a year ago. The pullback on August 9 was unremarkable as the price withdrew from $370.39.

ETHUSD Price Chart 11 August

ETHUSD Price Chart 11 August

In the event that the bears drive the prices underneath $346, the fall can reach out to $280. In spite of the fact that the RSI is as of now in the oversold region, we are not sure about a ricochet yet on the grounds that amid the past fall in late Walk of this current year, the RSI had progressed toward becoming profoundly oversold before a recuperation happened.

We will turn positive on the ETH/USD combine once it supports over the 50-day SMA. Until at that point, we recommend merchants stay on the sidelines.

XRP/USD

Ripple tumbled to $0.32 on August 8, just beneath our proposed focus of $0.32862. In the event that this level additionally breaks, the following stop is at $0.24001.

XRPUSD Price Chart 11 August

XRPUSD Price Chart 11 August

Despite the fact that the RSI is in a profoundly oversold domain, the feeble endeavour to pull back on August 9 demonstrates that the purchasers are in no rush to purchase the cryptographic money.

We will sit tight for the XRP/USD match to frame a bullish example before turning positive on it. The principal indication of strength will be the point at which the price maintains over the 50-day SMA.

BCH/USD

Bitcoin Cash made another year-to-date low on August 8 when it tumbled to $564.9304. The pullback endeavor on August 9 confronted a barricade at $619.7510.

BCHUSD Price Chart 11 August

BCHUSD Price Chart 11 August

The BCH/USD combine can now retest the support at $537.8221, which is the intraday low made on November 8 of a year ago. This is a noteworthy support; henceforth, we envision a solid purchasing in the zone of $537.8221 — $619.7510. The pair will pick up strength if the price supports above $620.

Then again, if the bears break beneath $537.8221, the coin can droop to $400.

EOS/USD

After a fizzled pullback endeavor on August 9, EOS is probably going to extend its descending move to the following support zone of $3.8723 — $4.3396.

EOSUSD Price Chart 11 August

EOSUSD Price Chart 11 August

We like that the EOS/USD match is as yet citing great over its year-to-date lows. The oversold levels on the RSI point to a plausible bounce back from the zone somewhere in the range of $3.8723 and $4.3396. We will sit tight for a solid bob to emerge before prescribing any purchases on the combine.

Our bullish view will be discredited if the bears break and support beneath $3.8723.

LTC/USD

Litecoin has remembered the distance back to the levels last observed in mid-November of a year ago. This is a negative sign.

LTCUSD Price Chart 11 August

LTCUSD Price Chart 11 August

An endeavour to pull back on August 9 failed out at $65 and right now the bears are attempting to stretch out the decay to the following focus of $57.

Between late September to early November of a year ago, the LTC/USD match over and over discovered support near the $48 — $52 zone. Along these lines, we anticipate that this zone will go about as a solid support amid the present fall.

Any pullback will confront a firm resistance at the 20-day EMA and at $74.074. We will sit tight for the pattern to change before proposing any long positions on it.

ADA/USD

The pullback endeavour on August 9 couldn’t scale over the $0.13 line. The past solid support will now go about as a solid resistance. Except if Cardano rapidly transcends $0.13, it is in danger of separating of $0.111843.

ADAUSD Price Chart 11 August

ADAUSD Price Chart 11 August

Underneath $0.111843, the following level to keep an eye out for is $0.078215. Any fall underneath this level will push the ADA/USD match into an uncharted domain, which is a bearish sign.

We will turn positive on the cryptographic money after it quits falling, breaks out of the downtrend line and ascensions above $0.15.

XLM/USD

Stellar ricocheted pointedly on August 9, which is a positive sign. This demonstrates the bulls are quick to claim it on plunges.

XLMUSD Price Chart 11 August

XLMUSD Price Chart 11 August

The level of $0.184 is one to look out for on the drawback since it has held since December of a year ago. Despite the fact that it was broken on a couple of events, the bears couldn’t maintain the prices beneath $0.184. Subsequently, we anticipate that the support will hold this time also.

On the off chance that, in opposition to our desire, the digital currency maintains underneath $0.184, it will wind up negative and can drop to $0.09. As we are generally bullish on the XLM/USD combine, we may recommend a purchase once it maintains over the moving midpoints.

IOTA/USD

The oversold level on the RSI has neglected to draw in purchasers. Particle keeps on looking frail on the charts, with a plausible drop to the example focus of $0.5721. In the event that this level likewise breaks, the following stop can be at $0.5 — $0.52.

IOTAUSD Price Chart 11 August

IOTAUSD Price Chart 11 August

Verifiably, an oversold level on the RSI has brought about a pullback. On the past two events when the RSI was near oversold levels, the Particle/USD match stayed in a range for a couple of days before climbing.

In this way, if the bulls guard one of the previously mentioned support levels, the match may endeavour a pullback. Any recuperation endeavour will confront a solid resistance at the past solid support of $0.9150. We will sit tight for a bullish example to create before recommending any long positions.

TRX/USD

Tron is attempting to skip off the basic support at $0.022806. In spite of the fact that the bulls have safeguarded the support for as long as two days, they have neglected to accomplish an important pullback.

TRXUSD Price Chart 11 August

TRXUSD Price Chart 11 August

The bears will now endeavour to break the support at $0.022806. In the event that fruitful, the TRX/USD combine will turn out to be to a great degree negative. The lower levels to look out for are $0.018297 and $0.01095383. Be that as it may, both of these are not exceptionally solid support levels, henceforth, it is hard to anticipate where the purchasers will advance in.

Our bearish view will be discredited if the bulls purchase the plunge beneath $0.022806 and push the prices above $0.02801344. Long positions ought to stay away from until the point when the prices balance out.

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