Stellar (XLM) Closes Last Hour Up $0.00; Moves Down For the 3rd Consecutive Day, Eyes 20 Day Average, Price Base in Formation Over Past 30 Days

The Hourly View for XLM

Last Updated October 16, 2020, 03:016 GMT

Currently, XLM’s price is up $0 (0.08%) from the hour prior. XLM has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 3 The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Stellar Daily Price Recap

Stellar closed the day prior down 0.03% ($0); this denotes the 3rd consecutive day it has gone down. The change in price came along side change in volume that was up 22.74% from previous day, but down 2% from the Thursday of last week. Out of the 7 instruments in the Top Cryptos asset class, Stellar ended up ranking 3rd for the day in terms of price change relative to the day prior. The daily price chart of Stellar below illustrates.

XLM

Stellar Technical Analysis

Coming into today Stellar is now close to its 20 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 5 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!