Stellar Against Bitcoin: Possible 50% Surge After XLM Supply Burn

Stellar against bitcoin posed a strong movement and a surge of more than 50 percent is likely since the altcoin has been at the top ten list of crypto assets by market cap for quite some time and is still hyped since the bear market first started in 2018 as we reported in the XLM News today.

This could change very soon since the crypto asset may be poised for further gains and Stellar against bitcoin proves to be gaining even more with a change of 50 percent increase in the upcoming days. Stellar (XLM) has struggled during the entire bear market to maintain the positive momentum and it is one of the few assets that has not yet broken the downtrend resistance which goes back from the previous all-time high.

At the start of the crypto hype bubble, stellar reached prices of more than $1 per token but it is now down by more than 90 percent and is trading at just under 8 cents per token. The things seem shaky for Stellar and the altcoin was trading at under 5 cents at the start of September but the Stellar Foundation burned half of the token supply thus causing a massive pump. The Stellar Foundation burned 55 million XLM tokens and resulted in a 25 percent surge in asset prices.

The pump is not quite over yet since Stellar could be preparing for another leg up and one that could result in a 50 percent gain against Bitcoin in the upcoming days. According to the popular crypto analyst DonAlt, Stellar shows signs that the XLM/BTC trading pair is prepared for a strong move up and the resistance has been officially breached which could be targeting 1400 satoshis. XLM is now trading at about 900 Sats and a further move to the 1400 sats means there is a 55% increase from the current prices. However, the increase is mostly based on performance against Bitcoin on the XLM/BTC trading pair ad not the USD.

On the XLM/USD charts, the crypto asset has another goal to break and get away from the downtrend resistance and could even continue to be locked in a downtrend against the dollar but sill outperforming bitcoin. This move suggests that Bitcoin could suffer a huge drop.