NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Stellar Cryptocurrency’s 190 Percent Rally Could Fizzle; Here’s Why

Yashu Gola
Yashu Gola
5 years ago
3 mins read
Stellar, XLM, cryptocurrency, crypto, bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Stellar Lumens’ native cryptocurrency, XLM, hit a fresh local high, up more than 190 percent in just one month.
  • The extraordinary price rally lacks concrete market fundamentals and relies more on macro crypto trends.
  • XLM reversed after testing a long-term resistance area, hinting it could extend its pullback move as investors shift their focus on Bitcoin ahead of its mining reward halving.

XLM, the native cryptocurrency of Stellar Lumens, rose to $0.0723 early on Tuesday to establish its highest peak since February 25.

The gains came as a part of a wider rebound that started late last March after the XLM price crashed 69 percent in just eight days. At its lowest on March 13, the Stellar cryptocurrency was trading at $0.024. Nevertheless, the newfound bottom created buying opportunities that eventually took the XLM price to its Tuesday top, up 190 percent.

Why Stellar Surged by 190%

Stellar’s move was purely technical. The cryptocurrency during its recovery remained under the influence of a macro crypto rebound. Its rival tokens, including Ethereum, Bitcoin, and XRP, registered similar upside swings after crashing during the March 12-13 trading session.

The recovery itself found its cues in traditional markets. Bitcoin formed a short-term correlation with the US benchmark S&P 500 against the backdrop Coronavirus pandemic. As the virus spread, it led the US equities down, prompting investors to dump their profitable crypto positions for cash liquidity.

Cash is king as U.S. quarterly reporting season gains steam https://t.co/B3zE96ATQu #news #business #social pic.twitter.com/GCkIT7J9Fm

— Real Marsha Wright® (@marshawright) April 17, 2020

Bitcoin, which is also positively correlated to rival cryptos, including XLM, fell drastically, as a result. But when the Federal Reserve intervened with trillions of dollars worth of stimulus package to save the US economy, it sent the equities recovering. Bitcoin, Stellar, Ethereum, and other cryptocurrency tokens merely tailed the global market’s recovery.

But altcoins did better than bitcoin. The period of rebound saw Ethereum taking its YTD gains up 50 percent, while Bitcoin SV, Chainlink, and Tezos’s returns crossed well above 100 percent. Stellar too did great, rising more than 50 percent in 2020. On the other hand, bitcoin rose only 7.60 percent into the year.

The reason Stellar and others did well is their better risk-to-reward profile. Their low volume profiles and surprising volatility allowed traders to the most out of their erratic, wild moves. Investors kept hunting for risky alternatives throughout the second quarter.

Alarming Signals

XLM is now technically preparing to break above a long-term resistance trendline of its prevailing Descending Channel, as shown in the chart below.

Stellar, XLM, cryptocurrency, crypto, bitcoin
XLMUSD completely recovers its March 2020 losses | Source: TradingView.com, Binance

The coin’s Relative Strength Indicator on a daily chart alerts about its overbought nature. It means traders can anytime exit their long positions to extract maximum short-term profits. While that could lead to XLM downwards, it would still be eyeing a pullback at a series of newfound support levels.

It starts with the blued 20-day EMA, followed by the saffroned 50-day EMA and an interim blacked floor near $0.044. Meanwhile, a break above the Descending Channel resistance could put XLM on road to $0.089.

But there is one catch. Bitcoin’s bullish prospects are growing ahead of its mining reward halving on May 12, 2020. Traders believe it would make the cryptocurrency more bullish, which means some may end up leaving altcoin markets to purchase the top token. That would create a downside pressure on Stellar as well.

Photo by Maciej Ruminkiewicz on Unsplash


Since you’re here… Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.

Tweet123Share220ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

11 Wallets Receive 295,861 Ethereum ($1.19B) From Major Institutions: Accumulation Or OTC Shuffle?

11 Wallets Receive 295,861 Ethereum ($1.19B) From Major Institutions: Accumulation Or OTC Shuffle?

Ethereum is struggling to defend the $4,000 level after losing more than 11% of its value since Monday. The sharp...

Sebastian Villafuerte 3 hours ago
hyperliquid-vs-aster-accusation-complot-cz

Hyperliquid vs Aster : la vérité sur l’accusation de complot impliquant CZ

Hyperliquid et Aster ne se disputent pas qu’un narratif : ils se disputent la liquidité, les volumes et l’attention du...

guillaumev 3 hours ago
XRP

XRP Faces Critical $2.97–$3 Resistance Zone, Wave 3 Or Deeper Correction?

XRP stands at a pivotal point as it approaches the $2.97–$3 resistance zone. Holding above this level could confirm bullish...

Godspower Owie 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum

Ethereum On-Chain Bloodbath: Rugs And Scams Erode Retail Confidence, What To Know

Godspower Owie 28 minutes ago
Dogecoin

Analysts Predict Dogecoin Price Will Explode: Why The $1 Mark Is Inevitable

Scott Matherson 1 hour ago
Прогноза за цената на XRP Експертите я сравняват с експлозивния растежен потенциал на Token6900

XRP Holders Could Lose Millions Of Dollars In 10 Days, Here’s Why

Sandra White 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望 ― 0.30ドル到達と「買うべきミームコイン」論争

    ドージコイン 今後の展望 ―...

    8 hours ago
  • リップル 今後の展望:RLUSDステーブルコインがマネーマーケットファンドに統合

    リップル...

    8 hours ago
  • 仮想通貨プレセール動向:次世代ビットコインレイヤー2が資金を集める

    ...

    8 hours ago
  • テザーが5,000億ドル規模の資金調達を計画、今注目すべき仮想通貨おすすめ

    ...

    8 hours ago
  • 新しい仮想通貨のプレセールが250万ドル目前、投資家が急増中

    ...

    9 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.