Stellar (XLM) and IBM

March 14, 2019 / by Bill Noble

Recently the Crypto.IQ analytics group has had a good call on Stellar (XLM). These ideas were delivered in the Crypto.IQ trading room.

Stellar (XLM) rallied over the last few days after breaking above a diagonal Fib speed line, Stellar (XLM) is now at horizontal resistance (Figure 1). One reason behind the recent rally is that Stellar (XLM) is going to start trading on Coinbase Pro.

 class= Figure 1

However, the rally in Stellar (XLM) may have deeper roots.

Recently, Stellar (XLM) engaged in a partnership with IBM to develop something akin to Ripple (XRP). Many forget that Stellar (XLM) came up with a solution similar to the JPM Morgan coin or what Facebook will eventually offer.

Yesterday, the marketplace received a subtle reminder at how serious IBM is about blockchain. At the SXSW Music Festival in Austin, IBM delivered a presentation called “Transparency in Advertising with Blockchain.” At this presentation, IBM showed easy-to-use software running on the blockchain that allowed digital advertisers to see what worked best with consumers and how to get the most from their digital advertising dollars.

They also said they were working with China on pork.

China currently consumes a very large percentage of the world’s pork. IBM is working with China to track pork sales on an IBM blockchain. The blockchain system will allow China to do recalls or monitor health risks from “bad” pork. Right now, the Chinese just have to let consumers get sick, because there is no way to track and recall bad pork or any pig-related diseases.

Bottom Line: Stellar (XLM) is at resistance. If alt season continues and Stellar (XLM) breaks out again, Stellar (XLM) can challenge Ripple, JP Morgan Coin and the eventual release of Facebook’s coin. Don’t call it a comeback, XLM has been here for years.

For more on trading Stellar and other alts, visit the Crypto.IQ Trading Desk. Synergies between the analytics and the trading group have never been better. .