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Altcoin Daily Preview: Stellar Lumens—IBM Partnership Indispensable as IOTA Reveal Alpha and Omega, Path to Decentralization

Latest Stellar Lumens News

Thing is, if implemented properly, Blockchain will disrupt businesses, governance systems and even value exchanges. Aside from supply chain management, blockchain is definitely shaping for the banking industry.

It’s because of this that Stellar and Ripple—two firms are merging the possibilities of blockchain based solutions in existing financial architecture with the aim of providing financial services for everyone, everywhere–are hailed as the future of finance and banking.

Read: XRP Architect, Ripple’s Schwartz Harrowed Over Crypto Adoption

While Ripple is better capitalized, Stellar is fast catching up and executing according to their original road map. Encouragingly, there is progress.

The recent launch of Interstellar, Stellar collaboration with IBM back in 2017 many more companies are not hesitating from using the platform’s rail fast-tracking the achievement of one of the company’s tenets: That of advancing global financial literacy, advocating for inclusion and providing cheap cross-border solutions.

XLM/USD Price Analysis

Despite the dip in digital asset prices, XLM has been in range mode for the better part of the year. In fact, just before the recent break below the 15 cents-20 cents main support line, XLM/USD prices were confined in a 15 cents range with caps at 30 cents and floors at 15 cents. Because of this, XLM/USD is trading within a bear breakout pattern and though steady, the path of least resistance is southwards.

Unless otherwise there are gains above Dec 9 highs at 13 cents, bears are likely to drive prices below Dec 6 lows of 10 cents. Once that prints out, it will be inevitable for Stellar to test 8 cents or lower by the end of the year.

However, as it is support is subject to BTC performance and the collapse of the king could send reverberation across the digital asset space.

Our XLM/USD is constant and will be as follows:

Buy: 13 Cents

Stop: 11 Cents

Target: 17 Cents

Latest IOTA News

After days of Coordinator, Coordicide talk and the sober assessment that the platform was to some extent “centralized”, IOTA is moving on towards complete decentralization.

 

The Coordinator is a centralized, protection mechanism shielding the network from double spending. It is a necessary checkpoint in a proof of work mechanism which the network leverage.

Also Read: Swift CEO To Step Down After 7 Years at The Helm

With the decoupling will make re-align the network according to the ideals of Satoshi Nakamoto though there is no mining.

To this end, the IOTA Foundation has unveiled two development teams—the Alpha Team to deal with development within the ecosystem. The Omega team which will see the accomplishment of IOTA’s objectives.

IOT/USD Price Analysis

IOT/USD Price Analysis

From an effort versus result point of view, IOT/USD is technically bullish all thanks to the Dec 7, 1800HRs price surge.

Even if sellers have an upper hand, sellers are literally trying hard to erase gains of Dec considering IOT/USD has been in consolidation mode in the last week. Better still, prices are confined within Dec 7 high-low. Because of this, our buy triggers are set at 25 cents.

If buy momentum pick up and propel IOTA above this level then first target will be at 34 cents or Nov 21 highs. On the reverse side, losses below 20 cents could ignite panic sells towards 15 cents or lower.

This is our IOT/USD trade plan:

Buy: 25 Cents

Stop: 24 Cents

First Target: 30 Cents

All Charts Courtesy of Trading View

This is not Investment or Financial Advice. Do your own Research.

The post Altcoin Daily Preview: Stellar Lumens—IBM Partnership Indispensable as IOTA Reveal Alpha and Omega, Path to Decentralization appeared first on Ethereum World News.

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IOTA Price Analysis: More Bearish Signals?

IOTA is trending lower against the dollar after previously breaking below a symmetrical triangle consolidation pattern. Price is forming another short-term consolidation pattern at the moment and it looks like a bearish flag signal.

IOTUSD was rejected on its test of the descending channel resistance visible on the 4-hour time frame and might have its sights set on the next support levels. At the moment, price is testing the swing low around 1.3420 and the 38.2% extension.

Stronger selling pressure could take it down to the 50% extension around 1.1153 or the 61.8% extension at 0.8828. A test of the channel support could also hit the 76.4% extension at 0.5952 or the full extension at 0.1304.

The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. These moving averages are slightly above the channel resistance to add to its strength as a ceiling in the event of another test.

Stochastic is pulling up to show that buyers are ready to regain control of IOTA price action. RSI also has some room to climb, so bullish momentum might still return. However once both oscillators hit overbought levels and turn lower, selling pressure could pick up again.

Dollar weakness came in play after US Secretary of State Tillerson was fired by US President Trump. This brought back fears of protectionism, especially since Trump emphasized his plans to impose higher tariffs on China soon after.

Then again, cryptocurrencies are under pressure thanks to recent headlines on regulation and security issues. To top it off, IMF head Lagarde also spoke about the use of  cryptocurrencies to facilitate illegal and terrorist activity, calling upon encryption experts help “fight fire with fire.”

Even so, IOTA co-founder Dominik Scheiner remains optimistic that more partnerships can be created in the digital asset industry, heralding the “next growth cycle” for IOTA. Schiener founded IOTA alongside David Sønstebø, Sergey Ivancheglo and Serguei Popov in 2015.

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IOTA Price Analysis: IOT/USD Trying to Sustain Its Breakout

IOTA broke down from a symmetrical triangle chart formation to signal that bearish pressure is picking up. The chart pattern spans 1.2000 to 2.6000 so the resulting selloff could be of the same height.

The 100 SMA is above the longer-term 200 SMA to signal that the path of least resistance is to the upside. However, the gap is pretty narrow so a downward crossover could still ensue and draw more sellers in.

Stochastic is on the move down to show that selling pressure is present. RSI is also heading south but is dipping into oversold levels to indicate that bears are getting exhausted.

In that case, price could still bounce back to the broken triangle support for a quick retest before resuming the drop. A return in bullish pressure, however, could lead to a move back up to the triangle resistance or the 2.0000 major psychological level.

The dollar has gained ground versus higher-yielding counterparts such as stocks and commodities when risk aversion returned on fears of a trade war. Although some US officials sought to reassure markets, the announcement of Cohn’s resignation revived protectionist concerns.

Recall that Trump recently announced plans to impose higher tariffs on steel and aluminum imports, likely resulting to retaliation from US trade partners. Cohn has been one of the advisers pushing for a more diplomatic in tackling these trade issues and it’s likely that his resignation was a result of disputes on tariffs.

Rumors that IOTA could launch beta testing of smart contracts could prop the cryptocurrency back up, though. However, there have been emails leaked that would have had repurcussions for IOTA had they contained any substantial proof of vulnerability.

In a tweet, Dominik Schiener clarified:

“As an organization, we have tried to stay out of the DCI controversy, and leave it to the individuals involved to lead the discussion. However, there is one public clarification to make: no Foundation member was involved in the email leaks in any way.”