A week after a dramatic surge in the market, the market is looking set to repeat the same. As we go into the weekend, the market has begun showing signs of yet another rally in the next couple of hours or days.
Though some of the top ranking coins are yet to begin moving and are still recording marginal losses, further down the rank, some coins are beginning to record substantial gains. Litecoin LTC and Stellar XLM are two of the best-performing coins at the time of press, both recording gains of over 3%.
XLM Eyes $0.10 In Short-term Rally
For weeks ago, XLM was trading above the $0.10 position but has since dropped as low as $0.073. With the coin at the time of press trading for a little over $0.079, in the next couple of hours, the coin is almost guaranteed to get above $0.080 and possibly with extended gains steadily get above $0.090 over the coming days. At the time of press, the coin is recording gains of a little under 4%.
Last week, the market rally seemed to have been triggered by Litecoin [LTC] which was performing exceptionally well hours before the rest of the market. Could Stellar trigger the next one?
It most certainly could especially with the help of Litecoin which is also soaring. In the next couple of hours, extended gains from XLM and LTC will see more coins turn green and major coins begin rallying and moving the market.
As Stellar begins to make a move, there’s expected to be a shake-up in ranking. As we reported a couple of days ago, Stellar was taking on Tron in its ranking. However, we did not address the fact that even as that plays out, Binance coin could flip Stellar first.
Stellar is only short of Tron by less than $100 million, while Binance coin is only short of Tron’s market cap by less than $200 million but recording higher and more consistent gains. In the coming days and months, there’s certainly going to be some change between the three coins.
Stellar has been one of the few coins that have managed to remain sustainable during the crypto winter. Many experts predict the bullish surge triggered last week to continue over the next coming weeks. A $0.17-$1.0 price range is one that is closely observed, with the range offering the chance to rally and hit early 2018 highs.