Stellar Forecast - Price has broken out! Will XLM outperform Bitcoin?

If we look at the weekly chart of Stellar price, we can see that the price remains bearish. The price remains below a trend line, hence the selling pressure remains. As long as the price is below the trend line, we expect the price to reach the next support. This is around 8 cents. Additionally, the price recently tested the +/- $0.14 former support as resistance. This is another indication that the price will continue the downtrend. However, this does not mean that the Stellar-Bitcoin pair will fall. On the contrary!

If we look at the Stellar course against Bitcoin, we can see that the course broke through the drawn trend line in the last week (week 24). This breakout signals us a future uptrend in the XLM/BTC pair. The goal would be the next resistance. This is located at around 0.0000662BTC. Because of this, we expect the Stellar Lumens course to outperform the Bitcoin course in the near future.

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