- Stellar Lumens has outperformed Bitcoin by 30%
- Lack of interest in Stellar signaled bottom until the latest rally
- Latest rally could place Stellar back in the top ten
Stellar Lumens News Today – it is no secret that Stellar has been tagged as the worse performing digital asset (alongside XRP) in recent years. But it seems the asset’s woes could be turning around soon after Stellar posted a significant rally against the number one digital asset by market cap, Bitcoin. This has given investors a new perspective for the digital asset.
But the question is; is this another sucker rally? Is Stellar about to undergo a strong, full-scale recovery? Let us see more about the coin’s performance in the recent sessions.
Stellar Pumped by 30% Against Bitcoin
After nearly two years of staying in a bear market, and one year in consolidation at lows, plus a fall of 90% from its ATH point, the Stellar price may finally be set to post a major recovery. The digital asset recently posted a powerful rally via the XLM/BTC trading pair. This rally sparked a 30% rise against the number one cryptocurrency BTC (outperforming it by a mile margin). This rally has also taken the XLM/BTC pair from the low points to retest the downtrend pattern from ATH.
After spending one year in consolidation at low prices, the price of Stellar’s XLM could come out from this accumulation. A break of the above-mentioned downtrend pattern would cause an explosive rise in buying power from the bulls. The bulls have fewer diagonal resistances to handle stemming from the asset’s ATH point.
The Latest Stellar Rally Could Take Back to the Top Ten List
When you scan Reddit pages and crypto Twitter, you will be hard-pressed to find any user talking about the recent rally initiated by Stellar. After these asset holders have spent more than two years in the gutter, only a few of them are even paying attention to this latest news on the altcoin. It is once more ranked in the top ten by market cap.
The more recent altcoins like Tezos and Chainlink originally pushed Stellar away from the top ten position a while ago. However, the most recent Stellar rally could give the digital asset a chance to reclaim its top ten position, or at come close to it at least. The markets are cyclical. When investors lose faith and capitulate, that the affected digital asset often turns around. Evidence about the recent Stellar rally could add more credibility to the theory that the digital asset has finally bottomed. Going by this sentiment, the price of Stellar’s XLM could pump from under the noses of investors.