XLM/BTC Is the bottom in?
Updated
Since November last year, the XLM/BTC pair has been stuck in a brutal downtrend. Many altcoins have behaved in a nearly identical manner, however not as many are looking to turn around.
The native token to the stellar network, XLM , has a strong case for utility and is often looked at as the sibling to Ripples XRP. However, it offer benefits that XRP simply can not given that XLM is open sourced and has built in smart contract compatibility.
A look at the daily chart shows that the downtrend is stalling and a few pulses of buying volume has begun to show up.
If we can overcome the shorter high around .0000085 -.0000086 then I would expect a stronger rally to commence.
This could be an amazing opportunity to bottom pick this altcoin.
Keep an eye on it!
Happy Trading!
Note
Some buying volume showing up. Good sign of a reversal.
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