On Nov.4 Stellar Lumens announced the completion of a 50% token burn of their total supply. This led to the destruction of 55 billion (XLM) tokens and the Stellar Development Foundation explained that the token burn was designed to provoke efficiency within the Stellar ecosystem.
The price of XLM surged 25% after the announcement this triggered the market to become bullish on the altcoin. Given that a growing number of altcoins are beginning to produce noticeable returns, an analysis of the technical aspects of XLM is warranted.