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FxWirePro: Stellar (XLM) lures with massive 24% rallies upon back-to-back hammers followed by stiff resistance break-out

Stellar (XLMUSD) has shown bullish rout upon the formations of back-to-back hammers during early February.

The pair has formed these bullish patterns at 0.081624 and 0.081669 levels respectively. Ever since then, it has rallied considerable upswings of over 24% in the last one and a half months.

Amid this process, bulls have managed to break-out the stiff resistance of 0.09676548 levels decisively.

Stellar Lumens surpassed TRON to become the 9thlargest cryptocurrency by market cap at just over US$ 1,486,995,765.

XLM is perceived as an alternative to Ripple (XRP). Both are meant for redefining global finance. The prime objective of Stellar is to serve the non-banking space. This coin offers a wide range of services to make up the efficient ecosystem, like, micropayments, remittances, etc.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing -74 (which is bearish), while the hourly USD spot index was at -55 levels (bearish) at 17:40 GMT.

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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