@whoisthelorax, Well friend the first spike was done on very little volume, the second spike had much higher volume. Low volume spikes are less stable than higher volume spikes. The first spike took approx. 2 weeks from beginning to end, The second is still ongoing at over 4 weeks. 3rd, I see in the second spike huge resistance from the downside being sustained that indicate weak hands leaving the trade. During the 1st XLM spike BTC nearly doubled in price, Many Alts took a hit yet in the second spike BTC lost about 40% from about Jan 3 - Jan 22nd and XLM held its ground, even gaining around 25% in the few days after. There has also been growth from the Stellar team and community that gave stable volume. Yes at 1st glance it does look familiar. But if we dig into the root and cause of such spikes we can find clues that help broaden our picture and perspective about Alts as a whole.
Your identification of btc going up in price while xlm went through it's surge is even more reason to look for consolidation.
Consolidation is healthy in a bull market. Xlm went up nearly 100x in USD value in 3 months.
Just like eth, neo and all the other legit coins that went on a bonkers bull run, there needs to be a multiple month period of consolidation. The moving averages need to catch up, the weekly and monthly chart indicators need to reset.
cryptocents
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@whoisthelorax, I understand, consolidation is normal, but that does not mean the price will decrease significantly.
Northside
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@whoisthelorax, Also keep in mind the spike in May was due to an airdrop of lumens.
livsoul
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Hello mr whoisthelorax . What price do you think will arrive in the next 10 days? I'm a Stellar fan too.