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Home Cryptocurrency news

Stellar Cryptocurrency Prints a “TD9”: Here’s Why It Means More Upside is Likely

Tony Spilotro by Tony Spilotro
10 months ago
in Cryptocurrency news, Stellar
Reading Time: 2min read
stellar cryptocurrency xlm
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The cryptocurrency known as Stellar has been a relatively poor performer over the last several years, however, throughout 2020 the once-booming altcoin has been showing signs of a strong recovery.

Now, the asset has printed a TD9 on daily price charts, following an over 10% intraday rally. Is this a sign that an altcoin season may soon begin?

XLMUSD Closes 10% Daily Gain, But More Upside is Likely For Altcoins

Last night’s daily close on the XLMUSD trading pair solidified an over 10% rally on the day in the altcoin.

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The cryptocurrency known as Stellar lumens has fared extremely poorly throughout the bear market, alongside the likes of XRP. But things appear to be reversing in recent weeks as the Bitcoin halving draws attention to the cryptocurrency space once again.

Related Reading | Stellar’s Fractal Shows How Epic the Next Crypto Bull Market Can Be 

It was after the last halving that altcoins began their incredible ascent towards all-time high prices, and the cycle could be restarting again.

A fractal is even forming on Stellar price charts on the XLMUSD trading pair, signaling that major upside is ahead. Backing up the potential chart formation, a TD 9 buy setup has also been triggered.

stellar xlm xlmusd xlmbtc cryptocurrency td9

Stellar TD 9 Buy Coinciding With Bitcoin Halving Could Cause  Alt Season

The TD Sequential indicator created by market timing expert Thomas Demark, has signaled a 9 “buy” setup on XLMUSD.  In the past, the TD Sequential indicator has shown incredible accuracy and precision in calling tops and bottoms in the crypto market.

The indicator called Bitcoin’s top in February 2020, the bottom in December 2019, and the all-time high peak at $20,000. It has also shown value as an accurate indicator for altcoins like Stellar lumens.

A number of other altcoins recently had similar signals trigger pointing to further upside in the days ahead, Bitcoin has triggered a sell setup instead.

Related Reading | Stellar Rally: Once Stagnant Altcoin Outperforms Bitcoin By 30%

Bitcoin crashing typically doesn’t bode well for altcoins like Stellar, but this time could be different. The Bitcoin halving kicked off the first-ever extended altcoin season and could do so again.

A fractal on XLMUSD price charts shows just how stellar the next cryptocurrency bull market might be. Fractals are patterns that repeat with peculiar accuracy and are the result of human emotion.

Bitcoin dominance charts demonstrated that altcoins are at a critical, bounce or die junction. A crash in Bitcoin could theoretically cause altcoins to bounce on BTC trading pairs, kicking off yet another extended altcoin season.

With XLM showing early signs of renewed interest in altcoins and buy signals backing up the bullish momentum, the next cryptocurrency bull market may finally be here.

Featured image from Pixabay

 

Tags: cryptocryptocurrencystellarStellar LumensXLMxlmbtcxlmusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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