{"id":422608,"date":"2020-05-03T18:30:48","date_gmt":"2020-05-03T18:30:48","guid":{"rendered":"https:\/\/uniquehot.com\/?p=422608"},"modified":"2020-05-03T18:12:57","modified_gmt":"2020-05-03T18:12:57","slug":"this-crypto-just-posted-a-historic-breakout-opening-the-gates-for-a-50-rally","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/this-crypto-just-posted-a-historic-breakout-opening-the-gates-for-a-50-rally\/","title":{"rendered":"This Crypto Just Posted a Historic Breakout, Opening the Gates for a 50% Rally"},"content":{"rendered":"

Stellar (XLM) has seen some notable underperformance of Bitcoin and the aggregated crypto market throughout 2019 and even 2020, largely being caught within an extended bout of sideways trading.<\/p>\n

Analysts are now noting that the crypto just broke above an important technical level that it has been caught beneath for many years, with the movement past this level being a notable development that could mean major upside is imminent.<\/p>\n

Other traders are taking note of Stellar\u2019s growing technical strength, as some are explaining that it could now target an upside movement<\/a> as large as 50% in the days and weeks ahead.<\/p>\n

Stellar Just Posted a Notable Breakout as Crypto Market Grows Bullish<\/strong>\u00a0<\/strong><\/h2>\n

The entire crypto market has been building greater strength throughout the past several weeks, primarily being led higher by Bitcoin\u2019s notable climb from its mid-March lows of $3,800.<\/p>\n

Stellar<\/a> is one such crypto that has seen some notable upside during the course of this recent uptrend, although it has been lagging slightly behind BTC and many of its other peers.<\/p>\n

It now appears that its technical strength is beginning to reach a boiling point, however, as it was just able to break above its Kumo cloud.<\/p>\n

This marks the first break of this level that the cryptocurrency has seen since 2018, with this being a notable technical development that could mean it is about to see a parabolic uptrend.<\/p>\n

Crypto analyst Josh Olszewicz spoke about this breakout in a recent tweet, saying<\/a>:<\/p>\n

\u201c2D XLM (USD) first kumo breakout since 2018.\u201d<\/p><\/blockquote>\n

\"Crypto
Image Courtesy of Josh Olszewicz<\/figcaption><\/figure>\n

This isn\u2019t the only positive technical factor currently playing to XLM\u2019s favor, as analysts have also been pointing to the crypto\u2019s overt strength seen against its BTC trading pair as a reason for why it may climb higher in the near term.<\/p>\n

\u201cNot many charts looking as good as XLM vs BTC right now,\u201d another analyst noted<\/a>.<\/p><\/blockquote>\n

XLM Could Rally 50% Due to This Strength<\/strong><\/h2>\n

As for how high this technical strength<\/a> could lead the crypto, one popular trader is explaining<\/a> that he is now targeting a 50% upside movement in the days and weeks ahead.<\/p>\n

His reasoning behind this is that XLM has been caught within a year-long accumulation pattern, with the potential resolution to this pattern being enough to catapult it higher.<\/p>\n

\u201cXLM Accumulation. Has been trading sideways for almost a year. Once this breaks to the upside, this thing will run fast and hard. First target is +50% away from the range high,\u201d he said.<\/p><\/blockquote>\n

\"\"
Image Courtesy of Bagsy<\/figcaption><\/figure>\n

How the crypto trends in the days ahead should offer significant insight into its mid-term trend, and it is a strong possibility that Bitcoin\u2019s reaction to its current resistance will have heavy influence over that of Stellar.<\/p>\n

Featured image from Unplash.<\/pre>\n","protected":false},"excerpt":{"rendered":"
Stellar (XLM) has seen some notable underperformance of Bitcoin and the aggregated crypto market throughout 2019 and even 2020, largely being caught within an extended bout of sideways trading. Analysts are now noting that the crypto just broke above an important technical level that it has been caught beneath for many years, with the movement past this level being a notable development that could mean major upside is imminent. Other traders are taking note of Stellar\u2019s growing technical strength, as some are explaining that it could now target an upside movement as large as 50% in the days and weeks ahead. Stellar Just Posted a Notable Breakout as Crypto Market Grows Bullish\u00a0 The entire crypto market has been building greater strength throughout the past several weeks, primarily being led higher by Bitcoin\u2019s notable climb from its mid-March lows of $3,800. Stellar is one such crypto that has seen some notable upside during the course of this recent uptrend, although it has been lagging slightly behind BTC and many of its other peers. It now appears that its technical strength is beginning to reach a boiling point, however, as it was just able to break above its Kumo cloud. This marks the first break of this level that the cryptocurrency has seen since 2018, with this being a notable technical development that could mean it is about to see a parabolic uptrend. Crypto analyst Josh Olszewicz spoke about this breakout in a recent tweet, saying: \u201c2D XLM (USD) first kumo breakout since 2018.\u201d This isn\u2019t the only positive technical factor currently playing to XLM\u2019s favor, as analysts have also been pointing to the crypto\u2019s overt strength seen against its BTC trading pair as a reason for why it may climb higher in the near term. \u201cNot many charts looking as good as XLM vs BTC right now,\u201d another analyst noted. XLM Could Rally 50% Due to This Strength As for how high this technical strength could lead the crypto, one popular trader is explaining that he is now targeting a 50% upside movement in the days and weeks ahead. His reasoning behind this is that XLM has been caught within a year-long accumulation pattern, with the potential resolution to this pattern being enough to catapult it higher. \u201cXLM Accumulation. Has been trading sideways for almost a year. Once this breaks to the upside, this thing will run fast and hard. First target is +50% away from the range high,\u201d he said. How the crypto trends in the days ahead should offer significant insight into its mid-term trend, and it is a strong possibility that Bitcoin\u2019s reaction to its current resistance will have heavy influence over that of Stellar. Featured image from Unplash.<\/p>\n","protected":false},"author":499,"featured_media":421931,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16891],"tags":[3970,76958,16425],"class_list":["post-422608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stellar-xlm","tag-stellar","tag-xlmbtc","tag-xlmusd"],"acf":[],"yoast_head":"\nThis Crypto Just Posted a Historic Breakout, Opening the Gates for a 50% Rally<\/title>\n<meta name=\"description\" content=\"Crypto traders are taking note of Stellar\u2019s technical strength, as some are explaining that the crypto could soon rally as much as 50% or more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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