XLM/USDT Buy and Sell- Trading Competition - Crypto Academy / S6T4 - Homework post for TEAM FRONTLINE

Hello crypto enthusiast, welcome to my forth trading competition assignment in the academy. I belong to TEAM FRONTLINE for this week competition lead by @shemul21 and @abdu.navi03. The token I will be trading today is Stellar coin as known as XLM.

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INTRODUCTION

Stellar cryptocurrency means a digital money that was developed by the Stellar Development Foundation. This organization token is known as Lumen and popularly known with this symbol XLM in all exchange. The main purpose of Lumen is to be used by any one performing trade on the Stellar network. It is a blockchain which is based on distributed ledger network which are in direct contact with banks, and any payment system and also people that want low cost in cross asset of moving of value and payment.

Stellar is considered one of the best in term of performance in all Altcoin for the past five years making its market cap a bit over $1 billion. Stellar been decentralized makes it very secure unlike the normal currencies and also disallow double spend.

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Project/technical/team background

Stellar is owned and controlled by the Stellar Development Foundation, and this foundation is a non-profitable organization owned by Jeb McCaleb. The money use to start the blockchain system was gotten from Stripe and also charitable donation from top organization such as Google, FastForward and BlackRock. The money use to run the operation is through the acceptance of tax deductible from public donations.

XLM Leadership Team
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Stellar aimed at working around the world and in 2018, the dream came through when they sign a deal with TransferTo platform which gives them access to cross-border payment service in more than 70 countries.

Exchange Stellar can be traded on

Been able to operate in over 70 nation as a decentralized system of payment make it one of the most popular cryptocurrency out they. The lumen token are almost 22.5 billion is circulation and the maximum supply is around 50 billion. Luman token can be found on popular exchanges such as Coinbase, Kraken, Binance, Brittrex, Upbit, Bitfinex, Huobi, and Crypto.com and many more.

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Why I am optimistic about Stellar

Stellar is one of the most used cryptocurrency in the world so I am fascinated to learn more about this token. I studied the chart for few hours on Tradingview and it seem like a dormant market with very little activity according to my candlestick movement. But after few hours in the was a little bit uptrend and in that moment I knew in order to make profit I had to be very attentive to any price change so I move my studied to my binance application on my phone to have a closer look at the chart. The image from tradingview is display below.

Image from Tradingview

How I analyze the Stellar token.

Due to very little movement in the market I knew my analyses have to be very precise and sensitive so just like my previous assignment I combine the Relative Strength Index (RSI) and Exponential Moving Average indicators. My RSI line was set at 6 and I use 3 EMA lines 5 been the more sensitive line, 10 and 20. So my analyses was based on these lines. After studying the chart for sometime they was barely a price change so the moment I notices the EMA 5 crosses above 10 and 20 lines and my RSI line is about to recover from the oversold region, I knew a bullish trend is about to occur and I quickly place an order at $0.2353

After my order was successfully filled, I continue with my analyses by looking closely at candlestick wick and also my indicators. Some minutes in and my RSI line began to decline and the EMA 5 line crosses below the 10 and 20 lines. So I immediately knew a bearish movement is about to occur and this is the best time to sell, so I place an order to sell at $0.2358. So calculating my profit is at $0.0003.

NOTE: All unsourced images above were taken from my Binance Application.

Do I intend to keep for long time or sell?

My intension is not to keep, I only intend to know more about the Stellar Development Foundation and the fact that it been run by a non-profitable organization makes me think is not the right token to buy and keep for future investment.

Do I recommend everyone to buy?

Yes I will recommend the Stellar because it represent the real definition of cryptocurrency where everyone can trade across border without the fear of his assert been frozen due to some bank or government policy. And for Stellar to be in 70 nations already just makes it one of the best decentralized virtual currency out they. So for any reason other than investment, buying and selling goods around the world, the Stellar token is one of the best form of payment with very little transaction cost.

CONCLUSION

I think Stellar is given the centralized monetary system (bank) a run for their money. It aim is to develop economies in areas bank fails to do. So In few years I will not be surprises if most bank adopt the Stellar decentralized system of payment and that will give a lot of freedom to trader anywhere around the world. But if you are looking for the token to investment in, I suggest to explore more token.
To know more about Luman coin click the link

Thanks you all for reading. Stay strong and safe.