Stellar’s XLM is today leading the race to recovery after a rocky couple of days. Mid-week, the market was hit hard and saw almost all top coins lose key support positions. This was led by Bitcoin which dropped below $11,500 before finding support.
Now, the bulls are beginning to take back charge and will be hoping to get back to recent highs. Stellar, which has been predicted to hit a new all-time high before the end of the year, during the bearish downpour dropped to around $0.086 from highs of $0.10.
As the market begins to recover today, Stellar is forging the way. At the time of press, Stellar has surged by more than 9%, making it the highest gainer among the top 20 cryptocurrencies.
This has seen prices rise from $0.087 to nearly $0.1. Resistance was met at the $0.098 position and has seen prices slightly fall to $0.096. If current momentum from Stellar and the larger market persists, Stellar is set to get back above recent ranges of $0.10.
Stellar (XLM) Set For Great Gains In The Months To Come
Further down the road, there is plenty to be optimistic about Stellar. As we have been reporting, Stellar is one of the most promising projects despite the recent challenge to get prices up. Unlike its greatest competitor, XRP, which is ranked 3rd, making it popular with investors, Stellar is 11th.
The Stellar project is poised for big developments in the coming months and investors can only hope that prices will catch up. The year 2019 has seen Stellar highs of around $0.13 and with prices set to get back above $0.10, this resistance position could easily be breached during the next key rally.
Market Recording Marginal Gains Despite Attack From U.S President
The larger market, led by Bitcoin, has welcomed Friday with marginal gains that the bulls are hoping can extend to moderate gains. The gains, as we have reported, have come despite an attack from the U.S President Donald Trump. However, although this has been received as a setback, there is a reason why this could be bullish for the market.