RATE Group | Stellar Lumens Is Breaking Out, Will Bitcoin Follow?
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Stellar Lumens Is Breaking Out, Will Bitcoin Follow?

28 Apr Stellar Lumens Is Breaking Out, Will Bitcoin Follow?

Posted at 11:01h in Cryptocurrency News by

Stellar Lumens and Bitcoin have shown high levels of correlation over the last month. Now, Stellar is surging, leading the way for a Bitcoin upswing.

Key Takeaways

  • Stellar Lumens appears to be leading the recent run-ups in the cryptocurrency market, based on this month’s correlation data.
  • At the moment, XLM is breaking out of a consolidation pattern that suggests a 34% target to the upside.
  • If history repeats itself, Bitcoin may soon catch up with XLM’s price action and start surging.

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Stellar Lumens seems to be leading the market as its price surges. Based on monthly correlation data, Bitcoin could follow if XLM makes a further advance.

Leading the Run-Ups in the Crypto Market

Stellar Lumens has been leading the run-ups in the cryptocurrency market since the beginning of the month. On Apr. 5, for instance, Stellar had surged nearly 7% by the time Bitcoin began to catch up. Five days later, a similar pattern emerged. Bitcoin started posting gains after XLM advanced…

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