RATE Group | This Cryptocurrency Shows Clear Technical Breakout of 800-Day Downtrend
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This Cryptocurrency Shows Clear Technical Breakout of 800-Day Downtrend

31 May This Cryptocurrency Shows Clear Technical Breakout of 800-Day Downtrend

Posted at 20:52h in Cryptocurrency News by

One of the cryptocurrency market’s worst-performing altcoins has finally broken out from an over 800-day downtrend.

With all remaining diagonal downtrend resistance cleared, what’s next will likely be retests of key horizontal and psychological resistance levels above, and possibly even the asset’s former all-time high. What exactly will it take for this cryptocurrency to get there, and could this be yet another sign the next bull run is beginning?

Remembering The Cryptocurrency Bubble and Altcoin Explosion

Some two weeks after Bitcoin shocked the world by reaching $20,000 per BTC, a FOMO driven retail rush to buy altcoins like Stellar, Ripple, Ethereum, and countless others cause their valuations to skyrocket.

According to data from popular crypto metrics platform CoinMarketCap, the cryptocurrency known as Stellar (XLM) reached an all-time high of $0.938144 USD on January 04, 2018.

Related Reading | Ripple and Stellar Lead List of Worst Performing Crypto Assets Year To Date

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