Stellar (XLM) pumped 118% in the last seven days

Stellar (XLM) pumped 118% in the last seven days
Written by:
Ali Raza
November 24, 2020
  • Stellar price saw a massive surge in the last 4 days, which led to a 118% weekly increase.
  • The coin grew by over 65% in the last 24 hours, before encountering a resistance that briefly rejected it.
  • Right now, XLM is going up once more, although the resistance at $0.18 has yet to be breached.

Stellar (XLM), an open network that allows users to move and store money, recently saw a massive pump that took the coin up by over 65% in the last 24 hours. On a weekly basis, Stellar had gone up by as much as 118%, marking this as its largest surge of the year.

Stellar in 2020

Stellar has seen ups and downs in 2020, although with more common smaller fluctuations than most other coins. Back in January, it started the year with a price of $0.0455, and by mid-February, it climbed to $0.083. Like other cryptos, it saw a correction after that, and the drop continued until mid-March, when COVID-19 fears caused the industry to crash.

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XLM price dropped to $0.034, which is the lowest point it has seen all year. From that point forward, however, Stellar has mostly either been going up, or trading sideways when it encountered a strong resistance.

There were several such resistances between mid-March and late August, including the ones at $0.04, $0.05, $0.07, and $0.1.

In mid-August, XLM managed to briefly breach $0.1, and it climbed to $0.11, although the resistance at $0.1 never really gave in. XLM price was rejected, and it dropped down only to be stopped by a support level at $0.075.

Stellar skyrockets on November 20th

From this point forward, XLM started a slow ascension towards $0.085, although this resistance did not allow it to go further up. At least, until November 20th.

Four days ago, on November 20th, Stellar price started a surge that attracted a lot of people who rushed to buy XLM, as its price started its sudden surge. In the last week alone, the coin went from $0.084 to $0.1825, surging by 118%.

After hitting a resistance at $0.18, the coin dropped to $0.16, and then it started going up once more. At the time of writing, its price sits at $0.17. The coin is once again approaching a resistance at $0.18, and many are waiting to see whether it will be able to breach it permanently this time, and continue going further up.