Cryptocurrency News Today – Headlines for May 16

  • Bitcoin’s halving has already caused surges in XLM and BAT
  • Stellar Lumens and Basic Attention Token have posted 12.5% and 16% gains
  • Bitcoin is still lagging despite the Bitcoin halving event

Cryptocurrency News Today – now that Bitcoin’s third block rewards halving (one of the most anticipated events) has been concluded, the bulk of altcoins in the digital asset market seems to have benefited positively. Although, there are still some downsides.

Since the Bitcoin halving event, altcoins like Basic Attention Token and Stellar Lumens have posted very impressive gains. Meanwhile, the price movement of Bitcoin Cash has continued to trade sideways despite the halving of its big brother Bitcoin. Lets see how each digital asset performed since the halving.

Stellar Lumens and Basic Attention Token Gained 12.5% and 16% Respectively

Since BTC’s halving, Stellar has witnessed a surge of 12.5%. The price of XLM was trading at $0.067 at press time with a market capitalization of $1.3 billion. Stellar Lumens price also registered a massive drop just days before Bitcoin’s halving. The altcoin faced resistance at its May 10 price position. If XLM’s price falls, it might get some help from $0.062 which is a support area. XLM’s EMA ribbon was trading high and there will likely be resistance. MACD pattern has signaled an upcoming drop in price. Recently, SDF claimed that its Blockchain network is suited to serve as the basis for a digital USD. However, the community’s reaction to the issue was mixed.

BAT’s had an excellent week in terms of price. The coin’s trading price surged by 16% during the past few days. BAT was trading at $0.20 at press time with a total market capitalization of $296 million. Its current price is close to the $0.19 support. If the coin’s price continued to increase, it will eventually get resisted at $0.24. RSI is headed to the overbought area, and MACD line has just undergone a bearish crossover.

Bitcoin Cash’s Price is Consolidating

In the last few days, the price of Bitcoin Cash has consolidated at $237. Since Bitcoin’s halving, the coin’s price has added 5%. At press time, Bitcoin Cash has a total market cap of $4.4 billion. The coin also has a 24-hour trade volume of $2.9 billion. BCH was seen in an extremely close range to the support at $235, and $226.

If prices begin a strong upward action, it may faced resistance at $257. BCH’s Bollinger Bands were contracting significantly which suggests that BCH’s price will continue to stabilize. RSI is moving away from BCH’s oversold area and will likely help with the price of the coin. Yesterday, BCH’s network completed one upgrade.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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