Stellar (XLM) Closes Last Hour Down $0.00; Eyes 200 Day Average, Heads Up For the 2nd Day In A Row, Breaks Above 200 Day Average

The Hourly View for XLM

Last Updated October 1, 2020, 01:038 GMT

At the moment, XLM’s price is down $0 (-0.01%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XLM. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is up 1.03% ($0.0008) since the day prior, marking the 2nd day in a row an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 20.7% from the day before — and down 19.66% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Stellar ranked 2nd since the day prior in terms of percentage price change. The daily price chart of Stellar below illustrates.


Stellar Technical Analysis

First things first: Stellar crossed above its 200 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For another vantage point, consider that Stellar’s price has gone up 7 of the previous 14 trading days.