Stellar’s XLM Outperforms Bitcoin By 30%: Altcoin Analysis

Stellar’s XLM outperforms Bitcoin by 30 percent after standing for a long time shoulder to shoulder to XRP as the two worst-performing cryptocurrencies in the past few years. In our Stellar news today, we read more about the performance of this cryptocurrency.

Stellar’s XLM could be soon turning around even further after the significant rally against Bitcoin that happened over the past few days. Traders wonder whether this is another coin rally or is Stellar about to stage a strong recovery and start the altcoin season?

For more than two years in a bear market, Stellar consolidated for a year in the lows and fell more than 90 percent from its all-time high. However, it seems now that Stellar may finally be ready for a major recovery. The altcoin had a strong rally on the XLMBTC trading pair and sparked a rally of more than 30 percent against the benchmark cryptocurrency, thus outperforming it. The rally took the XLM/BTC pair lows to start retesting the downtrend line from the all-time high as we can see from the charts.

After spending more than a year consolidating, Stellar could finally be ready to come out of the accumulation phase. Another break from the downtrend line could cause a huge boost in purchase power from the XLM bulls who have smaller diagonal resistance to face with stemming back from the all-time high. The pages on Twitter and Reddit about this cryptocurrency can show that there’s almost no one talking about the Stellar rally.

Newer altcoins such as Chainlink (LINK) and Tezos (XTZ) pushed Stellar away from the top spot but the recent rally can prove that the asset has the chance to reclaim the top tenth position or come closer to it. The markets are cyclical and which means that the investors are losing faith and give up before the altcoin comes back around.

The lack of interest about the recent rally could also be because the asset once previously bottomed and according to the sentiment, XLM could pump right out in front of their noses. The altcoins are usually explosive when they break out so Stellar could go on another rally soon similar to the one that took XLM to its all-time high back in 2017.