The cryptocurrency crash is picking up steam. Crypto like Stellar Lumens is down 16% for the day and 20% for the week. Even Stellar Lumens, a crypto that we like a lot, is suffering from this brutal crypto crash. Today’s recurring question is whether crypto investors should buy or sell Stellar Lumens now.
How things can change in 2 weeks time in the crypto market. It is amazing at which pace crypto is moving. On the one hand cryptocurrencies are ultra-volatile so it makes sense that this market feels like a rollercoaster from time to time. On the other hand the crypto market is near decision time so the fight between bulls and bears is greatest right now.
Stellar Lumens is one of those cryptocurrencies that got slammed today. On Wednesday, August 8th 2018, Stellar Lumens lost 16% of its value. Crypto investors keep on asking us: is this a trigger to buy or sell Stellar Lumens?
Stellar Lumens and the crypto crash
First, let’s focus on today’s crypto market crash. Bitcoin is down significantly, Ethereum is down strongly, Ripple is real under water.
The good news, if there is any, is that Bitcoin did not break critical support yet. As per our viewpoint, as long as Bitcoin continues to trade above $6,000 there is no harm done whatsoever.
Stellar Lumens is one of the top altcoins. In a bull market altcoins go up harder than Bitcoin. In a corrective phase it is the opposite. Because of this, Stellar Lumens is suffering more than Bitcoin during this crypto crash.
Stellar Lumens crypto buy vs. sell
As the crypto crash is evolving the million dollar question is when to really get concerned. This of course answer the question: buy or sell Stellar Lumens?
For now, it seems that critical price levels have held strongly.
Is there a reason to sell Stellar Lumens? No.
Is there a reason to buy Stellar Lumens? Potentially, we look at our leading indicators in order to answer this question. Note: details on our leading indicators are available to premium subscribers of our blockchain & crypto investing service.
Based on the chart of Stellar Lumens we see that this triangle pattern which unfolded after the crash of January 2018 is a recurring pattern on most top cryptocurrencies chart. As long as this triangle does not break down there is no harm down whatsoever. An important part of the answer “buy or sell Stellar Lumens as a cryptocurrency” is found on the chart, but it’s not the only source.
More details on the Stellar Lumens buy vs sell topic? Looking for the answer whether we still believe this Stellar Lumens price forecast is still accurate? Read today’s alert to our premium crypto subscribers, available in the restricted area >>
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